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HALIFAX PREDICTS UK HOUSE PRICES STABLE FOR REST OF 2012

UK house prices will end the year at the same level as now owing to tough economic conditions, a lender has predicted.

The Halifax, now part of the Lloyds Banking Group, said prices were broadly the same as a year ago, falling by 0.1% in May compared with a year earlier.

Various surveys have suggested the UK housing market is relatively stagnant.

But Halifax said prices had picked up between April and May, rising by 0.5%, to an average of £160,941.
 

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