Housing figures 'not as confusing as they appear'
Brits may be forgiven for being flummoxed by the latest housing statistics from two of the UK's biggest lenders.
According to Knight Frank, the data from Halifax and Nationwide "paint a similar picture", despite disagreeing over whether house prices are up or down.
The confusion could lead some to forget about selling up and decide to invest in a home improvement, such as a bespoke conservatory or kitchen extension, instead.
While the Halifax house price index showed a minor increase of 0.2 per cent in house prices during August, with the bank interpreting its figures as a sign of market stability, Nationwide suggested that its own statistics showed a stagnation over summer.
"They're both right actually," explained Knight Frank head of residential research Liam Bailey, who noted that conflicting house price reports were fairly common.
"The indication is actually that the market has flattened. The bigger picture is that neither index depicts very strong growth or very strong price drops," he said.
Posted by David Waxman
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