This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-11226502

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Halifax says house prices have stabilised Halifax says house prices have stabilised
(40 minutes later)
House prices have stabilised, according to the latest survey from the Halifax. House prices have stabilised, according to the latest survey from the Halifax mortgage lender.
It says the cost of the average UK home rose by 0.2% in August, but the annual rate of increase declined further, from 4.9% in July to 4.6% last month. It says the cost of the average UK home rose by just 0.2% in August to £167,953.
It means the average UK home now costs £167,953, which is 9% higher than the recent low point in April last year but 16% below the peak of August 2007. That figure was only slightly lower than at the end of 2009 and is still 16% below the peak of August 2007.
Despite the small increase in prices during last month the annual rate of increase declined further, from 4.9% in July to 4.6% in August.
The Nationwide said last week that prices were now only 3.9% higher than a year ago.The Nationwide said last week that prices were now only 3.9% higher than a year ago.
"Prices are now at a very similar level to that at the end of last year," said the Halifax's chief housing economist Martin Ellis."Prices are now at a very similar level to that at the end of last year," said the Halifax's chief housing economist Martin Ellis.
"Activity has also been largely static since the start of the year."Activity has also been largely static since the start of the year.
"These developments suggest that the market is broadly stable, with house price inflation having cooled since last year, when supply shortages helped to push up prices," he explained."These developments suggest that the market is broadly stable, with house price inflation having cooled since last year, when supply shortages helped to push up prices," he explained.
Low activityLow activity
Meanwhile, housebuilder Barratt has reported improved earnings, but a market still stuck in first gear, in its full-year financial results.Meanwhile, housebuilder Barratt has reported improved earnings, but a market still stuck in first gear, in its full-year financial results.
The homebuilder showed a full-year loss of £33m, down from £144m the previous year.The homebuilder showed a full-year loss of £33m, down from £144m the previous year.
Despite the steadily improving conditions, "by historic standards the market remained difficult and activity levels continued to be extremely low," the company said.Despite the steadily improving conditions, "by historic standards the market remained difficult and activity levels continued to be extremely low," the company said.
The company blamed the continuing lack of mortgage finance for constraining demand, saying the housebuilding industry had responded by opening fewer new sites.The company blamed the continuing lack of mortgage finance for constraining demand, saying the housebuilding industry had responded by opening fewer new sites.
"Whilst the improved balance between supply and demand has stabilised prices, it has done little to address the nation's fundamental housing shortage," it added."Whilst the improved balance between supply and demand has stabilised prices, it has done little to address the nation's fundamental housing shortage," it added.