Prospects for housing market remain good says Halifax

According to the Halifax house price index, UK house prices increased by 0.4% in March, making this the third successive monthly increase following a 1% fall during the final quarter of 2000. Subsequently, says Halifax, the annual rate of house price inflation has risen from 0.9% in January to 4.1% in March. Halifax reports the recent cuts in mortgage rates have helped to strengthen the market with key indicators of housing market activity confirming that demand has improved. Inland Revenue figures, for example, reveal a modest pick up in property transactions in the past few months....