Two per cent price fall pre­dicted

Yorkshire Post - Property - - PROPERTY -

THE Hal­i­fax re­port that house prices fell by 0.1 per cent last month, 0.6 in the first quar­ter of 2011 and are down 2.9 per cent year on year.

Martin El­lis, hous­ing econ­o­mist, says: “The over­all de­crease in prices in the first quar­ter of 2011, com­pared with the pre­vi­ous quar­ter, was a lit­tle lower than the quar­terly falls recorded in the third and fourth quar­ters of 2010.

“The re­cent in­crease in em­ploy­ment, par­tic­u­larly those in full-time jobs, may have been an im­por­tant fac­tor sup­port­ing the mar­ket. Our fore­cast re­mains for a 2 per cent de­crease in house prices in 2011 as a whole.

“Un­cer­tainty over the gen­eral eco­nomic out­look and in­di­vid­ual fi­nan­cial cir­cum­stances are likely to con­strain hous­ing de­mand.”

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