Halifax House Price Index shows 1% rise for August
www.moneynews.co.uk > Mortgages > Halifax House Price Index shows 1% rise for August
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Halifax House Price Index shows 1% rise for August
Fri 8th Sep 2006
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The Index also showed that the standardised average house price stood at £179,043.
However, experts predict that despite house prices and house buying activity remaining robust now there will be a definite slowdown in the rate of house price increases and in the amount of buying activity.
This can be demonstrated by house prices increasing by only 0.2 per cent between May and August and them increasing by 2.9 per cent for the three months before that.
Martin Ellis, the chief economist at Halifax, said: "August's increase was smaller than the 1.4 per cent rise in August 2005, contributing to a slowdown in the annual rate of house price inflation to 8.2 per cent from 9.4 per cent in June.
"We expect this trend to continue over the coming months with the annual rate easing to five per cent by the end of the year."
Other factors that experts believe will lead to an evening off of house buying activity and the increase in house prices are increasing utility bills and also the expectation of a higher base rate.
Related News : Mortgages |
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Related News : Halifax |
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