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House price growth will moderate, says the Halifax | House price growth will moderate, says the Halifax |
(35 minutes later) | |
Annual house price growth in the UK will moderate during the rest of the year, having peaked at about 10%, according to the Halifax. | Annual house price growth in the UK will moderate during the rest of the year, having peaked at about 10%, according to the Halifax. |
The lender, part of Lloyds Banking Group, said that supply and demand of homes would be "better balanced" this year and early in 2015. | The lender, part of Lloyds Banking Group, said that supply and demand of homes would be "better balanced" this year and early in 2015. |
Its latest survey showed that average house prices rose by 9.6% in the year to the end of September. | Its latest survey showed that average house prices rose by 9.6% in the year to the end of September. |
They rose by 0.6% compared with August, with the average home costing £187,188. | They rose by 0.6% compared with August, with the average home costing £187,188. |
This was slightly at odds with the latest survey from the Nationwide Building Society, which reported that prices had fallen by 0.2% from August to September. | |
Both lenders base their findings on their own mortgage data. | |
Slowdown? | |
Various publications have suggested that activity in the housing market eased slightly during the summer. | |
On Tuesday, the Bank of England's Credit Conditions Survey suggested that the supply and demand for mortgages fell in the three months to early September. | |
Martin Ellis, housing economist at the Halifax, said that annual house price growth had slowed in recent months. | |
Earnings rising slower than the cost of living, the possibility of an interest rate rise and prices rising at a rapid rate in some parts of the UK had put a brake on demand from potential buyers, he said. |
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