Friday, April 6, 2007
HPI Slowing down
The fog surrounding the housing market lifted yesterday when a leading property survey showed the weakest rise in prices for eight months, making forecasts of a slow-down appear more certain. Halifax, the bank, reported that prices rose by just 1 per cent in March. That was the smallest increase since July, although prices also showed an outright fall of 0.9 per cent in December. The news went some way to bridging the gap between the mortgage lender’s recent reports of soaring property costs and the downbeat forecasts of the Bank of England and many City analysts.