House price inflation lowest in four years

The lender says the annual rate of house price inflation fell to 5.7% in May, continuing the downward trend from the peak of 22.1% in July 204 and representing the lowest current level of growth in four years. Halifax says the housing market is operating within a narrow band of price volatility and is flat overall one monthly price rise followed by a fall in prices the following month. Estate agents have reported broad stability in market activity in recent months although sales remain around 30% lower than last year. The fall in the number of sales persists despite the fact that the n...