RICS: June Halifax house price figures

Commenting on Halifax house price figures, Oliver Gilmartin, RICS senior economist said: "The softer trend in this months housing data will not prevent the MPC from raising interest rates tomorrow as the economy continues to show solid expansion with price pressures remaining a worry. The summer typically sees a pick up in housing activity, although monthly rises in house prices have moderated to around 0.5 % over the last three months down from 1.5 % in the first quarter. Despite the slowing to 0.5%, this still equates to around £250 a week with affordability deteriorating by the day."