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House prices saw 0.5% hike in May

House prices rose 0.5% in May, the latest Halifax house price index shows.

The average price now stands at £160,941. House prices in the three months to May were also 0.8% higher than in the preceding three months.

But Martin Ellis, housing economist at Halifax, says: “While there has been a modest improvement in the trend for house prices recently, the current average UK price is similar to the levels both a year ago and at the beginning of this year.

“We expect this situation to continue, with prices likely to still be around today’s levels at the end of 2012 as the tough environment constrains housing demand.”


Manic culture caused eurozone woes

Western economies displayed the same kind of manic behaviour as psychologically disturbed individuals in the run-up to the 2008 credit crisis and it could happen again, a leading professor has warned. Professor Mark Stein from the University of Leicester School of Management, says bankers, economists and politicians shared a manic culture of denial, omnipotence and […]

Marketwatch – June 2012

The rain in Spain stays mainly, well, everywhere at the moment, as eurozone leaders run around like headless chickens trying to sort out what to do next.


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