House prices have dipped in September, so says research published today by the Halifax .
The bank states that the decrease of 0.6% recorded in September was consistent with a slower housing market .
The Halifax emphasises that the figures highlight a downward trend since January 2007.
House prices increased from the second to third quarter of 2007 by 0.9%. However, from first to the second quarter house prices increased by 2.3%. House prices stood at 3% in the first quarter of 2007.
September's price fall coincides with the normal behaviour of the housing market during a slow time. A mixture of monthly price increases and decreases is the norm for a more subdued housing market.
Presently the UK economy is strong. Healthy employment levels as well as few properties for sale will continue to support house prices.
Nonetheless, certain adjustments in regional housing markets occurred.
Northern Ireland witnessed a huge quarterly increase of 8.2% from April to June 2007, with a decrease of 3.2 per cent from July to September. The North saw a considerable house price rise of 122% since 2002. However, this situation is now declining, with prices down to 2.1% in the last three months.
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House Prices Fall in September
Thu, 04 Oct 2007
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