House prices soften in February
Free email from MoneyWeek
Money
Morning is the FREE daily email from MoneyWeek – a punchy round-up
of the latest investment news and profit opportunities. DON’T MISS
IT!
This genius investor does dizzying levels of research to uncover...Half Price Shares!
UK house prices dropped last month for the first time since late last year, figures from Halifax-owner HBOS revealed today.
Prices fell 0.3% in February, the survey showed, taking the annual rate of growth down to 4.2% from 4.5% the month before and the average cost of a home to £196,649.
The country's biggest mortgage lender reckons house prices will be flat in 2008 following a significant decline in housing market activity.
(Article continues below)Advertisement
The failure of lenders to pass on the last two interest rate cuts and a reduction in the number of loans it agrees has prompted buyers to desert the market.
In January, prices remain unchanged from December, which had seen a surprise 1.3% increase, Halifax figures showed.
FREE! For all our latest advice on making profitable investments, claim your 3-week FREE trial of the MoneyWeek website and magazine now.
Money Morning is the FREE daily email from MoneyWeek
– a punchy round-up of the latest investment news and profit opportunities.
DON’T MISS IT!
