| Halifax plc part of the HBOS Group, the UK's largest | | | | expectations. The figures presented by Halifax show |
| provider of residential mortgages and saving accounts | | | | a fall in prices during June, but it seams that the |
| is advising that due to rising utility and council tax bills, | | | | annual price inflation is accelerating. The annual rate |
| the householders have been more restricted. In April, | | | | went up to more than 9 and a half per cent last |
| May and June the average raise in UK house prices | | | | month, compared to about 9 per cent the month |
| was only about 2.5 per cent, which represents an | | | | before. The explanation given by the bank was that |
| important fall compared to the first quarter of year | | | | the market was weak a year ago, and the prices |
| 2006. | | | | were largely flat during the first half of 2005. |
| The fall doesn't predict a crash in UK house prices | | | | There is no surprise that in the summer there is a |
| especially that the prices had risen in all parts of the | | | | noticeable slowing down on the market. The house |
| UK, apart from Wales. Actually what Mr. Martin Ellis, | | | | price inflation in June was subdued at 0.3% reveals |
| Halifax chief economist explained is that the rise | | | | Nationwide, the UK's fourth largest mortgage lender |
| growth in the first half of 2006 had already | | | | and second largest savings provider and the largest |
| exceeded the banks' and many other economists' | | | | building society in the world. |