From The BBC:
House prices fell back in June, according to the latest property survey from the Halifax.It says property prices dropped by 0.5% last month, partly reversing a large 2.6% rise in May. Despite June’s decrease in house prices, the annual rate of decline eased from 16.3% to 15% last month. The Halifax said there was evidence the property market was stabilising after the sharp slump in sales and prices seen since the middle of 2007.
The average UK property now costs £157,715, according to the Halifax. The lender’s chief economist, Martin Ellis, said prices had fallen by only 1.9% in the past three months – the lowest quarterly rate of decline since early last year. “These figures provide evidence that the underlying pace of house price decline is easing,” Mr Ellis said. “There are further indications of a modest improvement in sales activity, albeit at a very low level,” he added. Different pictureThe figures from the Halifax tell a different story from those recently published by r…
Leave a Reply