Halifax and investment bank Merrill Lynch have produced separate reports suggesting the UK housing market may be heading for the freezer rather than the fridge.
Latest monthly house price index figures from the lender suggest house price inflation more than halved during the three months to September as against figures for the second quarter this year. House prices on average gained by 1.4% in September, but this masks deep differences in regional markets. For example, price gains in the Northwest slumped to 3% over the third quarter compared with a 10.8% rate in the second quarter. Rising interest rates and increasing difficulties for first-time buyers are cited as reasons price inflation will continue to moderate into next year. Merri...
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