Prices are still treading water
HOUSE prices fell slightly in the three months to August, according to the Halifax.
Martin Ellis, housing economist, says: “Nationally, house prices continue to tread water, as measured by the underlying trend. Prices in the three months to August were 0.3 per cent lower compared with the previous three months. House prices fell by 0.4 per cent in August with the declines in the past two months largely offsetting the gains in the preceding two.”
He said there was little change in house prices so far this year with the UK average price in August at a similar level to the end of 2011. A gradual upward trend in spending power, aided by lower inflation, should help demand in the coming months.