Halifax has recorded the slowest rise in house price inflation this year so far for May, indicating that a gentle slowdown in house prices is taking place. Prices increased by 0.3% last month, which is the third consecutive slowing in inflation, bringing the annual rate of increase to 10.6% from a peak of 11.1% in March. The report also says that buyer interest in properties fell for the fifth consecutive month, and the volume of mortgage approvals awarded fell also. However, solid economic conditions and high employment are boosting the market, as the economy continues to grow, making the likelihood of any downward spiral in prices extremely unlikely. Halifax now expects house price inflation to moderate over the remainder of the year as real earnings growth also slows: ?Higher interest rates, the negative trend in real earnings growth and rising food prices are likely to bite increasingly on householders? finances over the coming months, curbing housing demand,? said Halifax chief economist Martin Ellis. ?House price inflation is expected to moderate as a result. The market, however, remains supported by solid economic foundations which, together with supply shortages, will continue to support prices.? Seema Shah from Capital Economics said these results confirm their prediction of a slowdown in the market by the end of the year: ?With interest rates likely to hit 6% this year, putting further pressure on affordability, mortgage demand will weaken further. Overall, this will only add to downward pressures on house prices. As such, our forecast of markedly weaker house price growth by end-2007 remains firmly on track.?
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Five homes with their own orchards that will be the apple of your eye (almost literally)If you've been looking enviously this year at neighbours with apple trees that have been heaving with fruit, here is the solution: five lovely homes for sale that come with their own orchards.
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Where in the world is this? — and other pressing questions. It's the Country Life Quiz of the Day, October 14, 2025Test your general knowledge in Tuesday's quiz.
