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British house prices down 0.1 pct in May: Halifax

Xinhua, June 4, 2015 Adjust font size:

The latest Halifax house price index released on Thursday showed that British average house price stood at 196,067 pounds (about 300,930 U.S. dollars) in May after seasonally adjusted, edging down 0.1 percent from April.

House prices in the three months to May were 2.0 percent higher than in the preceding three months. The quarterly rate of change fell for the second successive month, according to the Halifax, a lender under Lloyds Banking Group.

Prices in the three months to May were 8.6 percent higher than in the same three months a year earlier.

"The imbalance between supply and demand is likely to continue to push up house prices over the coming months. Looking further ahead, the increasing level of house prices in relation to earnings is expected to dampen house price growth," said Martin Ellis, housing economist of the Halifax. Endit