Prices creep up in May

Yorkshire Post - Property - - PROPERTY -

HOUSE prices crept up 0.1 per cent in May, ac­cord­ing to the Hal­i­fax, which says the trend is down­wards.

The av­er­age house price now stands at £160,519, down 4.2 per cent on a year ago.

Hal­i­fax chief econ­o­mist Martin El­lis says: “House prices con­tinue to drift mod­estly down­wards as mea­sured by the un­der­ly­ing trend. Prices in the three months to May were 1.2 per cent lower than in the pre­vi­ous three months, un­changed from April. There was a 0.1 per cent rise in prices in May fol­low­ing April’s 1.4 per cent de­cline.

“Low earn­ings growth, higher taxes and rel­a­tively high in­fla­tion are all putting pres­sure on house­hold fi­nances. Con­fi­dence is also weak.”

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