House prices gain only a blip warns Halifax

Prices increased 1.6% in August following a 0.4% gain in July but, despite the improvement last month, prices have increased by only 2.1% so far this year compared with a 12.5% rise by the beginning of September 2004. On an annual basis, house prices were 2.5% higher in August, marking a significant downward trend in underlying house price inflation over the past year from an annual rate of 21.3% in August 2004, says the lender. And the Halifax says the pick up in house prices is likely to be only temporary arguing the growth in prices in August seems to be consistent with a pattern est...