House prices slip for first time in six months [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
Property values declined by 1pc when compared to February, according to the latest Halifax house price index. A typical UK home now costs £288,430, the lender said. The dip comes amid falling mortgage rates and a surge in houses entering the market, with property portal Rightmove recording a 45pc weekly increase in homes put up for sale on its website the Thursday before Easter - the third biggest day for new listings since August 2020. The best two-year mortgage deal on the market comes with a 4.88pc rate, according to data firm Moneyfacts. The average two-year fixed rate still sits at around 5.81pc. But Halifax said with only modest improvements to buyer affordability on the horizon, scope for significant house price increases this year is “likely limit[ed]”. Bank of England figures out this week show mortgage approvals are up, hitting their highest level in February since former prime minister Liz Truss' mini-Budget in September 2022. Kim Kinnaird, director of Halifax
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