House prices steady in first quarter
HOUSE prices in the first quarter of 2012 were little changed compared with the final quarter of 2011, showing a decline of just 0.1%, according to The Halifax.
This was the same as the slight fall recorded between the third and fourth quarters of 2011. The underlying trend indicates broad stability in UK house prices.
The more volatile monthly figures continue to fluctuate as a result of the historically low level of sales volumes, increasing by 2.2% in March following February’s 0.4% fall.
Halifax say efforts by first-time buyers to beat the expiry of the stamp duty holiday have probably increased sales. It expects little overall movement in prices this year provided that the UK economy does not weaken.