Ch.t.d.: UK housing market is stalling

07.06.2010 11:43
In May, house prices in the country, according to the mortgage bank Halifax, fell by 0.4% relative to April. Previously, other authoritative sources have reported a slowdown in growth of this indicator up to the previous month.

At the same time on an annualized basis in May, prices rose by 6,9%, and in April - on 6,6%, informs Prian. However, experts Halifax explain the acceleration of growth in prices relative to last year that in 2009, this index declined more rapidly.

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Recall that, according to statistics from the UK's biggest portal for real estate Rightmove, in May, the average cost of residential facilities in the country rose by only 0,7% on the previous month.

According to the National Building Society, UK Nationwide, home prices over the same period grew by only 0,5%. Research company Hometrack said that in May, this figure rose by only 0.2% compared with April.

Halifax economist Martin Ellis said that such a "mess" with prices shows slowing of market activity and correlates with the view of analysts, the bank that the whole of 2010-the year the cost of housing in the country will not change relative to the previous one.

Analysts at IHS Global Insight also argue that in the coming months, house prices are unlikely to show significant growth.

In addition, according to Halifax, in the first quarter sales of housing in the UK declined by 18% compared to the same period in 2009.
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