Caution As House Prices Climb Back Up for Halifax ; Property

Summary

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House prices staged a surprise bounceback last month, jumping by 1.3 per cent - their biggest one-month rise since last February - reversing a similar fall in November, according to Halifax, Britain's biggest mortgage lender.

This finding contrasts directly with that from Nationwide, which showed a 0.5 per cent fall, while the Bank of England reported last week that the number of mortgages approved for house purchase in November fell to the lowest level for three years.

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Caution As House Prices Climb Back Up for Halifax ; Property

Martin Ellis, Halifax's chief economist, stressed that last month's leap should not be taken as a signal that the housing market has re-ignited.

"Th...

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