(Il Sole 24 Ore Radiocor) - Milano, 8 apr - In March, house prices in the UK fell 0.5% from February, when they rose 0.3%, while on an annual basis, were up 0.8% compared with a 1.2% rise in the previous month, according to data released by lender Halifax.

The average price of a property in the UK is now 299,677 pounds.

'The recent slowdown in the housing market reflects the wide uncertainty regarding the conflict in the Middle East.

Concerns about higher energy prices have pushed up inflation expectations, which in turn led to a rise in mortgage rates, reducing confidence that interest rates will be cut this year and dampening the initial momentum in the market seen at the start of the year," said Amanda Bryden, head of mortgages at Halifax.

'The effect on house prices will largely depend on how longlasting these pressures prove to be and the wider implications for the economy and unemployment." However, she noted that the recent increase in UK mortgage rates has been more modest than the sharp rises seen during the mini budget of 2022, and that many households will already be on fixed deals, protecting them from the latest rate rises. "Taking all this into account, house prices may prove resilient, even if uncertainty weighs on market.

activity in the near term.'

(RADIOCOR) 08-04-26 08:56:35 (0168) 5 NNNN