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Halifax finds no change in house prices

09 May 2005
The latest edition of the Halifax House Price Index has found that house prices remained unchanged in April.

According to the Index, the standardised average UK house price remained at £163,615. The price hasn't changed since January this year.

This information combines with other recent property data to paint a picture of a stabilising housing market.

Halifax Estate Agents confirms the pattern of limited change in newly agreed sales following two months of increases outlined by the Royal Institute of Chartered Surveyors (RICS) last week.

"House prices were unchanged in April, and overall there has been no movement in prices at the national level since January," Martin Ellis, chief economist at Halifax, commented.

"We appear to be entering a period of broad stability, particularly in terms of market activity. Sound fundamentals, particularly in the shape of the ongoing strength of the labour market and the low level of interest rates, should continue to underpin the market."

The total value of household sector wealth in the UK increased by £589 billion (12 per cent) during 2004, reaching £5,511 billion, Halifax calculated.

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