House prices in Britain rose a bigger-than-expected 1.1 per cent in July, leaving prices down 12.1 per cent in the three months to July versus a year ago, the smallest fall in 11 months, mortgage lender Halifax said.
Compared with last July, prices were just 9.9 per cent lower, the smallest annual fall since June 2008, and a marked improvement from the 18.9 per cent annual fall recorded in December.
The figures tally with other surveys suggesting the decline may be starting to level off. Halifax said demand for homes had risen since the start of the year, helped by low interest rates. –(Reuters)
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