|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    24th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Property News feed Property News

All Financial News feed All Financial News

Halifax: house prices up 0.6% in July

Bookmark and Share

by Gill Montia

Halifax has reported that UK house prices increased by 0.6% in July, reversing a fall of 0.6% in June.

Prices were 4.9% higher year-on-year, having lost ground on a month earlier when the annual rate of growth registered at 6.3%.

At £167,425, the value of the average home stood 8.3% above its April 2009 trough but 16% below its August 2007 peak.

According to the lender’s housing economist, Martin Ellis, there has been little change in prices so far this year.

He suggests that an increase in the number of properties for sale, boosted by the recent abolition of Home Information Packs, has relieved upward pressures on prices, while low interest rates and a recovering economy continue to underpin demand.

However, the economist adds: “The mixed pattern of monthly rises and falls over the first seven months of the year is consistent with a slowing market.”

By way of comparison, Nationwide recently reported that the value of a typical UK home declined by 0.5% in July, to £169,347.

The building society’s chief economist, Martin Gahbauer, suggest that it is too early to tell whether house prices will remain flat in 2010, or whether further price falls are in store.

Discuss this in the Finance Markets forums

Story link: Halifax: house prices up 0.6% in July

News posted: August 4, 2010

Financial Services:

Related financial stories to: Halifax: house prices up 0.6% in July:
Previous: «
Next: »

Visited 2858 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: ,