Increase in house prices indicates stable market

In its latest House Price Index the building society reveals tihe index has reaached 572.9, while the average house price now stands at £177,020, a monthly increase of 0.2%. Halifax says weak technical factors over July has contributed to a pick-up in annual house price inflation, while a strengthening economy and improved buyer confidence gave the market more momentum than expected. As a result the HHPI has slightly increased its forecast for house price growth for the year from 3% to 5%, which is still below the long-term average of 8% but is in line with the reported increase in 2005....