The decline in the Halifax house price index is further evidence that the housing market recovery took a backward step at the turn of the year. It is possible that temporary factors mean that recent data overstate the true extent of the weakness. Even so, the data do nothing to change our view that the economic outlook is too weak to sustain the recovery in house prices.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services