Halifax: UK Annual House Price Inflation Slows In July

--Halifax UK July House Prices +0.4% y/y; -0.2% 3m/3m; +2.1% 3my/y

     LONDON (MNI) - UK house price growth slowed on quarterly and annual

readings in July, data from the Halifax, the UK's leading leading mortgage

provider, showed.

     However, the Halifax UK House Price Index was  up 0.4% on the June reading,

down 0.2% in the three months through July and on a year ago, house prices were

up 2.1% on a 3 month/3 month reading, down from June's reading of 2.6%.

     The Halifax said continued tight supply was likely to offer support to

house prices over coming months, although demand had waned somewhat.

     "House prices continue to remain broadly flat, as they have since the start

of the year. Prices in the three months to July were marginally lower than in

the preceding three months, while the annual rate of growth has edged down from

5.7% in January to 2.1% in July; the lowest rate since April 2013," Russell

Galley, Managing Director, Halifax Community Bank, said.

     Data from both the British Bankers' Association and the Bank of England

have shown a slowing in both mortgage applications and approvals in recent

months, with the expected weakness in real wage growth seen as impacting on

consumers pockets.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MABDS$,M$B$$$,M$E$$$]