House prices in the past three months were 1.2 per cent higher than in the preceding three months, according to Halifax’s latest index (Property Investment).

This was slightly below May’s 1.5 per cent increase and was the lowest increase on the basis since December 2014 when it was 1 per cent.

Prices in the three months to June were 8.4 per cent higher than in the same three months of 2015. This was down from 9.2 per cent in May and was the lowest since July last year (7.8 per cent).

Martin Ellis, Halifax’s housing economist, said there was evidence the underlying pace of house growth may be easing.

He added: “House prices continue to increase, albeit at a slower rate, but this proceeds the EU referendum result, therefore it is far too early to determine any impact since.”

House prices increased by 1.3 per cent between May and June, following a 0.9 per cent rise in May.

Halifax noted that month-on-month changes can be erratic, and said quarter-on quarter change is more reliable indicator of the underlying trend.

Mark Harris, chief executive of mortgage broker SPF Private Clients, said that with swap rates in decline: “There has never been a better time to take out a fixed rate”.

(FTadviser, July, 2016)

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About Us: Churchill Wealth Management is a team of independent financial advisors/financial advisers (IFAs) based in Clifton, Bristol. We provide independent financial advice, including pension advice, investment advice, inheritance tax planning and protection/insurance advice.