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Financial News: UK Halifax House Prices Fall In June

UK Halifax House Prices Fall In June

07/05/2019 - 03:41:00 (RTTNews)

(RTTNews) - UK house prices declined for the first time in three months in June, figures from the Lloyds Bank subsidiary Halifax and IHS Markit showed Friday.

House prices decreased 0.3 percent month-on-month in June, reversing a 0.4 percent rise in May. Prices were forecast to fall 0.4 percent.

In the second quarter, house prices growth eased to 5.7 percent annually, in line with expectations, from 5.2 percent seen in three months to May.

On a quarterly basis, house prices advanced 2.4 percent compared to an increase of 2.5 percent in three months to May.

"More generally the housing market is displaying a reasonable degree of resilience in the face of political and economic uncertainty," Russell Galley, managing director at Halifax, said.

Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average.

The likelihood of continued historically low mortgage rates will underpin prices in the near term, Galley added.

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