Thursday, August 5, 2010

Halifax, a bank in the United Kingdom, has announced that house prices in the country rose 0.6% during the month of July 2010, according to a survey of house prices made by the mortgage provider. House prices fell 0.6% over the course of June 2010.

Halifax economist Martin Ellis commented: “House prices increased by 0.6 percent in July, reversing the fall in June.” He also stated: “Overall, there has been little change in prices during 2010 so far. The mixed pattern of monthly rises and falls over the first seven months of the year is consistent with a slowing market. It is also in line with our view that house prices will be broadly unchanged over 2010 as a whole.”

Statistics from Halifax also reveal that the average price of a house in the UK is currently £167,425 (US$266,366, €201,849, A$291,950, C$273,044). This figure is 16% less than the summit witnessed in August 2007.