Price trend still up de­spite last month

Yorkshire Post - Property - - PROPERTY -

HOUSE prices fell by 1.2 per cent in Au­gust, ac­cord­ing to the Halifax Price In­dex.

They showed a rise of 1 per cent over the quar­ter and a fall of 2.6 over the past 12 months.

Martin El­lis, hous­ing econ­o­mist, says: “The un­der­ly­ing trend showed a modest im­prove­ment in house prices. The 1.2 per cent fall in Au­gust fol­lows three months when prices have risen. As a re­sult, the more re­li­able quar­terly change, which smoothes out some of the monthly volatil­ity, shows a rise. A re­cent de­cline in av­er­age mort­gage rates has fur­ther boosted home af­ford­abil­ity for those able to raise a de­posit.

“Over­all, we ex­pect broad sta­bil­ity in both prices and ac­tiv­ity over the com­ing months.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.