Price remain flat, says Halifax
The Halifax survey reveals that prices were stagnant last month.
Martin Ellis, chief housing economist, says: “House prices were broadly flat in April, declining by just 0.1 per cent. This followed a 1.0 per cent increase in March. The underlying rate of house price growth has slowed in recent months following the relatively sharp rebound, albeit from a low base, in the second half of 2009. The improvement in house prices since spring 2009 has encouraged more people to try to sell their property. New sales instructions have risen, helping to push up the stock of unsold properties in recent months. As a result, the imbalance between supply and demand is easing.”