8 Oct

Prices of houses for sale in UK 'relatively stable'

Prices of houses for sale in UK 'relatively stable'

According to the latest figures from Halifax, the change in values of houses for sale in the UK has remained relatively stable.

It revealed that while house prices in the third quarter of 2010 were 0.9 per cent lower than in the second quarter, this rate of change is still below what was previously seen in 2008.

Housing economist Martin Ellis noted that during the second half of 2009, the rate of change was a downturn of between five per cent and six per cent.

He stated: "It is therefore far too early to conclude that September's monthly 3.6 per cent fall is the beginning of a sustained period of declining house prices."

Mr Ellis added that the increase in supply of properties for sale in Britain could have contributed to this change in values, reducing the imbalance of supply and demand that was seen last year.

Halifax's figures contradict findings released by Nationwide last week, which revealed that there was a rise in the value of houses for sale in the UK of 0.1 per cent between August and September 2010.ADNFCR-1222-ID-800106606-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.