Wednesday, September 7, 2011
Citywire take on Halifax numbers
UK house prices dropped by 1.2% in August, according to Halifax, marking an annual fall of 2.6%. The mortgage lender, part of Lloyds Banking Group, emphasised that while there had been a monthly decline, comparing the latest three months compared with the preceding three months showed a modest improvement in house prices. â€˜The current low volume of sales tends to make house prices volatile from month to month,â€™ said Martin Ellis, housing economist at Halifax. Of the last ten months, half have shown declines in prices, while half have shown rises or no change.