House prices edged up in September as the market recovered from the initial Brexit hit

Helen Cahill
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House prices are moving up again (Source: Getty)

House prices fell 0.1 per cent in the three months to September as compared to the previous quarter, according to Halifax - but they edged up month-on-month.

There was a 0.1 per cent increase in property values between August and September, following two months of house prices falling. Year on year growth hit 5.8 per cent.

Read more: House prices in Chelsea have fallen by 10 per cent this year

"House prices in the three months to September were largely unchanged compared with the previous quarter," said Martin Ellis, Halifax's housing economist.

"The housing market has followed a steady downward trend over the past six months with clear evidence of both a softening in activity levels and an easing in house price inflation."

He added demand has become constrained since house price growth reached a high of 10 per cent in March because prices had been rising more quickly than earnings, making it difficult for people to buy a home.

There was a lull in house prices immediately following the Brexit vote, but prices have begun to rebound and confidence has also picked up.

House prices after Brexit: a short history

  1. In June, RICS predicted house prices would drop for the first time since 2012
  2. Rightmove report house prices fell by 0.2 per cent in June
  3. Brexit vote, everyone wants to know what will happen to house prices, so we asked the experts
  4. FTSE 100-listed housebuilder shares take a tumble
  5. Data from Halifax shows house prices fell after the Brexit vote
  6. Mortgage approvals fell to an 18-month low in July
  7. Nationwide reports house prices went up again in August
  8. Rightmove reports house prices rebounded in September after the Brexit vote

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