Halifax has reported that the housing sector in the United Kingdom will remain to be robust within the next months though the prices in properties slightly dipped last month. There was a .9 percent fall in the values of properties last month which took the typical price of homes to about 202,000 pounds. Although this has already experienced a dip, the price is still relatively higher compared to a year ago. It is higher by 8.6 percent.

Moreover, Halifax is expecting that monthly price movements will become very volatile and that the quarterly changes can be used as a very reliable indicator of the underlying direction of where the housing market is heading. Looking at the prices on a quarterly basis, the prices in houses between the months July and September were higher by 2 percent than during its previous three months. An analysis conducted by George Osborne revealed that there are flaws on the foundations.

Halifax said that the continued low rates for mortgages, lack of homes that are for sale and the economic growth would likely drive the housing market demand during the coming months. The company pointed to the recent figures given by HM Revenue and Customs which showed that United Kingdom home sales increased by at least 3 percent on a month-on-month basis last August. The sales reached to about 106,400 which is the highest monthly total since last year of February.

Halifax also reported that the Royal Institution of Chartered Surveyors had reported in the last summer that the supply for homes that are for sales had fallen to its lowest levels according to records. The Halifax housing economist said that the demand in the housing industry had been strengthening and is unscathed by the economic growth, very low rates in mortgages and rising real earnings. The increase in demand is combining with a very low supply which drives robust underlying of the prices in houses. There is only little reason to expect in the fundamental shift in the market drivers in the coming months.

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