Halifax: Housing market faces 'significant headwinds'

The Lloyds-owned lender's latest house price index shows the average house price rose by 1.2% in June compared with the previous month, but it said demand will become increasingly constrained. Low pay rises, higher taxes and inflation are all contributing factors, with the current low base rate ensuring a degree of stability in the property market. Martin Ellis, Halifax’s housing economist, said: “Low interest rates, an increase in the number of people in employment and some tightening in market conditions earlier in the year are likely to have been the main factors behind the recent ...