British house prices slip in February: survey

4th March 2011, Comments 0 comments

British house prices slipped by 0.9 percent in February, offsetting a modest gain in January, data from a top home-loans provider showed on Friday.

"There has ... been little change in house prices over the first two months of 2011 as a whole. February's monthly decline of 0.9 percent offset January's 0.8-percent gain," said Halifax housing economist Martin Ellis.

"Overall, we expect a modest 2.0-percent decrease in house prices in 2011. Uncertainty over the economic outlook is likely to weigh down on housing demand this year."

Halifax, part of state-controlled Lloyds Banking Group (LBG), said the average house price in Britain stood at £162,657 (189,226 euros, $264,257).

© 2011 AFP

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