House prices static in October

The latest Halifax House Price Index annual rate of house price inflation now stands at 3.9%, significantly below the 18.5% recorded in October 2004 with the average house price now £168,210. The High Street lender says movements during recent months show the market has strengthened, but the static level of prices in October suggests the housing market is not poised for another sustained period of sharply rising property values. But housing market activity continues to improve, says the Halifax. The number of mortgage approvals to fund house purchase rose for the third successive month i...