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British house prices up 1.7 pct in June

Xinhua, July 8, 2015 Adjust font size:

The latest Halifax house price index released on Wednesday showed that British average house prices stood at 200,280 pounds (about 307,706 U.S. dollars) in June after seasonal adjustment, increasing by 1.7 percent from May.

Prices in the three months to June were 9.6 percent higher than in the same three months a year earlier, the highest since September 2014, according to the Halifax, a lender under Lloyds Banking Group.

House prices in the latest three months to June were 3.3 percent higher than in the preceding three months. The quarterly rate of change picked up following two successive falls, it added.

"Supply remains very tight with the stock of homes available for sale currently at record low levels. This shortage has been a key factor maintaining house price growth at a robust pace so far in 2015," said Martin Ellis, Halifax housing economist.

"Economic growth, higher employment, increasing real earnings growth and very low mortgage rates are all supporting housing demand with signs of a recent modest pick-up in demand," he added. Endit