Modest decline is trend in house prices

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House prices rose by 0.1%, last month according to the latest Halifax House Price Index.

However, in the three months from March to May prices were 1.2% lower than in the preceding three months. The Halifax says this measure of the underlying trend shows that prices are in modest decline as has consistently been the case over the past 12 months.

Martin Ellis, housing economist at the Halifax, said: “Low earnings growth

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