House prices set to remain static
House prices increased by 0.2 per cent, according to the latest Halifax index, which reveals that prices are up by 4.6 per cent year on year.
Martin Ellis, Halifax housing economist, says: “This, together with July’s rise, has reversed much of the modest decline in the three preceding months.
“Prices are now at a very similar level to that at the end of last year. Activity has also been largely static since the start of the year. These developments suggest that the market is broadly stable with house price inflation having cooled since last year. We expect that UK house prices will remain static overall in 2010.”