According to the Halifax house prices rose by 0.6% in July. This is in contrast to Nationwide who reckoned that prices had fallen by 0.5%. That is odd because Halifax usually declare lower than Nationwide. It is all very confusing, you just don't know who to believe.
Despite prices rising by 0.6% Halifax say that the annual rise is down to 4.9%. Nationwide on the other hand reckon that annual house price inflation stands at 6.6%.
Halifax predict house prices are steadying rather than falling sharply. "The Halifax figures confirm that what we are seeing is a stabilisation in the property market rather than, as some have suggested, the beginnings of a sharp correction," said David Smith of property consultancy Carter Jonas.
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