Halifax housing report 'indicates mixed pattern'

Date:Thursday 5th August 2010
Author: Max Freedman

There is no clear pattern in recent fluctuations in house prices, according to a Halifax property expert.

Martin Ellis, housing economist at the firm, made his comments after the publication of the Halifax house price index for July, which increased by 0.6 per cent compared to the previous month and 4.9 per cent over the past year to stand at £167,425.

He highlighted how the company is predicting no major change in the value of properties in 2010 and claimed this study supports the forecast.

"The mixed pattern of monthly rises and falls over the first seven months of the year is consistent with a slowing market," added Mr Ellis.

According to the Halifax housing spokesperson, the abolition of home information packs and the low interest rates consumers are currently enjoying are helping to support the property sector.

This week, the same firm suggested that value of the pound is making a trip to Europe a greater possibility for many Brits eager for a holiday.