That’s right, 0.5 per cent in June, according to the latest Halifax House Price index.
However, analysts had forecasts a fall of 0.7 per cent and Martin Ellis, Halifax’s housing economist, reckons this decline is further evidence of ‘bottoming out’.
“There was a 0.5% decline in average UK house prices in June. On a quarterly basis, the 1.9% fall in house prices in the second quarter was the smallest since 2008 quarter one. These figures provide evidence that the underlying pace of house price decline is easing.
There are further indications of a modest improvement in sales activity, albeit at a very low level. Industry-wide figures show that the number of mortgages approved to finance house purchase increased for the fourth successive month in May. Approvals were at their highest level since April 2008 and 10% higher than a year earlier.
Whatever.
Here’s the index.
Related link:
House price stability pushes Persimmon ahead - FT
Nationwide says house prices rise in June - Press release
