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Tuesday 11th of May 2010
May 7, 2010    

House price rises continue to slow

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by Gill Montia

Halifax has reported that UK house prices increased by an annual 6.6% in April.

However, a month-on-month fall of 0.1%, took the value of the typical home down to £168,202, or £13,539 above its April 2009 trough.

Commenting on the figures, the lender’s housing economist, Martin Ellis, says: “The underlying rate of house price growth has slowed in recent months following the relatively sharp rebound, albeit from a low base, in the second half of 2009.”

The balance between the number of homes for sale and buyer demand is easing somewhat, according to data from the Royal Institution of Chartered Surveyors, and given this scenario, Mr Ellis is predicting that house prices will remain flat during 2010 as a whole.

By way of comparison, Nationwide’s recently published house price index showed a 1% month-on-month rise in April, with the annual rate of inflation moving into double digits for the first time since June 2007, at 10.5%.

According to the building society, the typical home cost £167,802 last month.

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