View more on these topics

House prices down 1.2% in August

House prices fell by 1.2% in August to an average of £161,743, according to the latest Halifax house price index.

The average house price in August was 2.6% lower than in August 2010, but prices increased by 1.0% in the three months to August compared to the previous three months.

Martin Ellis, housing economist at Halifax, says: “The underlying trend, as measured by the latest three months compared with the preceding three months, showed a modest improvement in house prices for the second consecutive month in August.”

He says that current low sales volumes make house prices volatile from month to month, meaning that the quarterly change gives a more reliable indication of the market than the figure for August alone.

He adds: “A recent decline in average mortgage rates has further boosted home affordability for those able to raise a deposit to make a new purchase.

“Low interest rates are likely to continue to support the market whilst increased uncertainty about the economic outlook and pressures on householders’ finances constrain demand. Overall, we expect broad stability in both prices and activity over the coming months.”


Dragonfly takes Maslow Capital under its wings

Dragonfly Property Finance has acquired specialist mezzanine lender Maslow Capital. Dragonfly will take over Maslow’s multimillion pound loan book, but specialist mezzanine and development loans will continue to be offered through the Maslow brand. Staff teams will combine increasing Dragonfly’s workforce from eight to 15. Jonathan Samuels, chief executive officer of Dragonfly, says: “With our […]

Mutuals’ lending in July edged up 6% on 2010

Gross mortgage lending by mutuals rose 6% in July compared with the same month last year, according to the Building Societies Association. Mutuals lent £2.1bn in July, up from £2bn in July 2010.

Growth forecast for UK cut by 0.2%

The British Chambers of Commerce has cut its growth forecasts for the UK economy for both 2011 and 2012. In its latest quarterly economic forecast, the BCC predicts the economy will increase by 1.1% in 2011, revised down from 1.3%, and forecasts growth of 2.1% for 2012, down from a previous estimate of 2.2%. The […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Bill Wells 7th September 2011 at 7:08 pm

    If the BBC was doing the reporting it would be “£billions wiped off the value of UK homes in August” – when are these institutions going to realise that they are partly responsible for all the gloom and despondency and, as a result, our continuing economic woes.

  • Brian Abram 7th September 2011 at 3:16 pm

    Statistics, etc, etc. I agree Mark. Given that the Halifax Index purports to describe a national trend and is driven by valuation data from house purchases only and therefore probably just a few thousand examples across the whole UK it is unlikely to be statistically reliable.

  • Mark C 7th September 2011 at 10:41 am

    Why not the headline ” 1% rise in the last quarter” Just as valid. Probably more so.
    Much better for all if a positive slant rather than everything being negative was portrayed to the public.
    Statistics etc etc !!