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| Version 3 | Version 4 |
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| House prices show monthly rise but remain 'volatile' | House prices show monthly rise but remain 'volatile' |
| (12 days later) | |
| House prices rose by 1% in June to an average of £162,417 as the housing market continued its volatile start to the year, according to mortgage lender Halifax. | House prices rose by 1% in June to an average of £162,417 as the housing market continued its volatile start to the year, according to mortgage lender Halifax. |
| In the first six months of 2012 the bank has reported four monthly price rises and two monthly drops, including a 2.3% fall in April. | In the first six months of 2012 the bank has reported four monthly price rises and two monthly drops, including a 2.3% fall in April. |
| Halifax's housing economist, Martin Ellis, said the end of the stamp duty holiday for first-time buyers towards the end of March "appears to have distorted house price movements and sales in recent months". However, he said the wider picture was of a market that was stabilising. | Halifax's housing economist, Martin Ellis, said the end of the stamp duty holiday for first-time buyers towards the end of March "appears to have distorted house price movements and sales in recent months". However, he said the wider picture was of a market that was stabilising. |
| "There has been a marked improvement in the annual rate of change over the past 12 months. A year ago, in May 2011, house prices were falling at an annual rate of 4.2%," he said. | "There has been a marked improvement in the annual rate of change over the past 12 months. A year ago, in May 2011, house prices were falling at an annual rate of 4.2%," he said. |
| "In contrast, there has been broad stability recently with the annual rate between 0% and -0.5% in each of the past three months." | "In contrast, there has been broad stability recently with the annual rate between 0% and -0.5% in each of the past three months." |
| The figure for the three months to June, which is considered to offer a better picture of the market than one month's numbers, showed a 0.3% drop in prices. | The figure for the three months to June, which is considered to offer a better picture of the market than one month's numbers, showed a 0.3% drop in prices. |
| Halifax's figures for June, which contradict rival lender Nationwide's report of a 1.5% fall in June, took economists by surprise. | Halifax's figures for June, which contradict rival lender Nationwide's report of a 1.5% fall in June, took economists by surprise. |
| Howard Archer, chief economist at IHS Global Insight, said: "We are surprised by the 1% rise in house prices in June reported by the Halifax. | Howard Archer, chief economist at IHS Global Insight, said: "We are surprised by the 1% rise in house prices in June reported by the Halifax. |
| "However, it should be borne in mind that the Halifax house price index has been particularly volatile in recent months, which partly reflects the distortions caused by the ending of a stamp duty concession in late-March." | "However, it should be borne in mind that the Halifax house price index has been particularly volatile in recent months, which partly reflects the distortions caused by the ending of a stamp duty concession in late-March." |
| Russell Quirk, director of online estate agents eMoov.co.uk, said it would be wrong to see the figures as a sign that the housing market was strong. | Russell Quirk, director of online estate agents eMoov.co.uk, said it would be wrong to see the figures as a sign that the housing market was strong. |
| "Anyone looking to sell in the current market has to put their property on at the right price, or be prepared to wait indefinitely," he said. "Buyers know they have a strong hand right now." | "Anyone looking to sell in the current market has to put their property on at the right price, or be prepared to wait indefinitely," he said. "Buyers know they have a strong hand right now." |
| Top mortgages | Top mortgages |
| Chelsea Building Society | Chelsea Building Society |
| Yorkshire BS | |
| Nationwide | Nationwide |
| Provided by London & Country for the Guardian | Provided by London & Country for the Guardian |