House price growth at 1.8% says Halifax

Posted: 09 Mar 2007 09:46:07 GMT

House price inflation has continued to barrel along at 1.8 per cent over February, despite more than halving from the break-neck growth seen in the autumn, Halifax has found

House price inflation has continued to barrel along at 1.8 per cent over February, despite more than halving from the break-neck growth seen in the autumn, Halifax has found.

Quarterly growth has dipped to 2.3 per cent over the last three months, after a sluggish start to the year, compared to the 4.7 per cent growth seen in the previous quarter.

Annualised house price growth has remained at 9.9 per cent for the third consecutive month, said the Halifax House Price Index, one of the most-respected regular surveys.

"A shortage of both new and second-hand properties available for sale has continued to push house prices up so far in 2007, particularly in London," said Martin Ellis of Halifax.

"However, there are some signs emerging that the increase in interest rates since last summer is dampening housing demand but this is yet to feed through to house prices."


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