House Price Falls Slow
According to the Halifax, house prices fell by just 0.5% in June. In the 3 months to the end of June, house prices fell by 1.9%, the lowest quarterly fall in the first quarter of 2008. The Halifax claims that this provides evidence of confidence returning to the housing market and that the underlying rate of house price falls is easing.The fall in June meant the annual rate of decline was 15%, down from 16.3% in May.
The Halifax figures contrast with Nationwide, which showed prices rising by 0.9% in June, the third increase in 4 months.
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