Halifax publishes new property survey

08 July 2005
Halifax has issued a new property survey, showing prices increase by 0.1 per cent on average during June.

The figures from the mortgage lender indicate that house prices have been static for the first half of the year.

In Wales, house prices rose, recording a 4.2 per cent rise, while Northern Ireland oversaw a 3.9 per cent rise.

In some regions - notably the south-east - prices fell, with a 1.2 per cent fall in that region underlining the regional disparity in the property market at present.

Chief economist Martin Ellis said the figures showed a cooling of the market, but stressed the figures underlined stability rather than a crash.

"House prices increased by 0.1 per cent in June and the average UK house price was static over the first six months of 2005 as a whole," he said.

"Housing market activity has stabilised following the sharp decline in the second half of 2004 with some signs of a steady improvement in recent months. The number of loans approved for house purchase increased for the fifth successive month in May, and Halifax Estate Agents has seen a steady level of sales since February," he added.

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