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House prices fell 2% in June, says Halifax

House prices fell by 2 per cent in June, according to Halifax’s latest house price index.

On an annual basis, house prices in June were 6.1 per cent lower.

Halifax says UK average prices have returned to the level they were at in August 2006. The UK average price remains slightly higher, 2 per cent, than two years’ ago, and more than 10 per cent higher than in June 2005 and almost 40 per cent above that in June 2003.

Chief economist Martin Ellis says: “House prices have declined by 6.1 per cent over the past year. Nonetheless, the average UK price remains slightly higher than two years’ ago and is appreciably stronger than three or four years ago.

“A strong labour market, low interest rates and a shortage of new houses underpin housing valuations. Our research shows that the labour market is the key driver of the housing market. Employment is at a record high.”


Fears of rapid decline for mortgage market

Home Funding chief executive Tony Ward warns that the mortgage market is going to quickly fall further if the Treasury’s mortgage finance working group does not come up with a solution.

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


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