Prices are still tread­ing wa­ter

Yorkshire Post - Property - - PROPERTY -

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.

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