Halifax predicts flat house prices

The Halifax says the pace of price falls has picked up over the last few months, but is still far from the 5-6% drops seen in the second half of 2008. Martin Ellis, Halifax housing economist, says: "Higher numbers of properties for sale, combined with reduced demand, have caused the recent decrease in prices. "There are, however, some tentative signs that homeowners are becoming more reluctant to put their properties on the market which, if continued, will help to relieve the current downward pressure on prices." Interest rates are likely to remain very low for an extended period, ...