The housing market IS now cooling - Halifax

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While housing prices increased for a second consecutive month in January, Halifax's monthly index found that annual rate ground to its weakest growth in three years.

According to Halifax, house prices inflation saw a slight increase of 0.8% in January, adding to the 1.4% increase in the past six months and a 13.7% yearly increase to January, in comparison to a peak in inflation of 22.1% in July 2004, making January 2005 is the lowest annual increase since December 2001. The mortgage lender says the housing market has subsided by a third since May last year, contrary to the most recent figures from the Bank of England and RICS, suggesting a dearth in the housing market may be leveling out. In January, the Royal Institute of Chartered Surveyors (RICS...

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