Halifax: House price inflation slowing

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Halifax: House price inflation slowing

The Halifax House Price Index for August has revealed that the rate of house price inflation is slowing.

Halifax's index charted an increase in house values of 0.4 per cent, making August the third month in the last four to have charted a rate lower than 0.5 per cent.

More pertinently, the three-monthly increase has decelerated from 4.5 per cent in March to 1.6 per cent in August.

The bank predicted that the five interest rates since last summer will prolong the downward trend until the end of the year.

However, Martin Ellis, chief executive of Halifax, said: "Sound economic fundamentals, high levels of employment and a shortage in the number of properties available for sale will […] continue to support house prices."

According to Halifax, the UK is the second strongest performer in Europe when it comes to house price growth, behind Spain.

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