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House Prices
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Written by Andrew Goldsmith
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Thursday, 04 February 2010 09:34 |
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According to the Halifax House Price Index the average price of a house stands at a seasonally adjusted £169,777 in January, which is up 0.6% on December and 3.6% on the same time a year ago.
Commenting, Martin Ellis, housing economist, said: "House prices rose by 0.6% in January. This was the seventh successive monthly increase and takes the average price to 9.9% above its trough in April 2009. January's rise, nonetheless, was more modest than in any of the previous six months. The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from those with a sufficient deposit to enter the market. Increased demand has combined with a low supply of properties available for sale to push up prices. There are some signs that more people are putting their homes on the market. A further increase in the supply of property is possible over the coming months, which would help to curb upward pressure on prices. Overall, our current view is that house prices will be flat during 2010."
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