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HOUSE PRICES BROADLY STABLE SAYS HALIFAX

House prices are "broadly stable", the Halifax says, despite recording a 2.2% rise in March.

The lender says the current very low level of sales means that prices are volatile from month to month.

However, in the past three months, prices have dropped by just 0.1% and they are now 0.6% lower than they were a year ago.

The Halifax's survey suggests that the average UK home now costs £163,803, almost the same as in July last year.

Martin Ellis, the Halifax's housing economist, said: "The underlying trend therefore indicates broad stability in UK house prices.

"Efforts by first-time buyers to beat the expiry of the stamp duty holiday at the end of March have probably increased sales in recent months and may have helped to support prices.

 

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