The Halifax has predicted that the housing market will experience a “soft landing” with prices falling by an average 2% this year. The mortgage lender said house prices had developed in line with its predictions in the first six months of the year. The company’s chief economist Martin Ellis said: The UK housing market is on course for a gentle slowdown. We continue to expect a 2% fall nationally in house prices this year.” Ellis added: “This slight decline should be set against nine consecutive years of rising prices, during which the average home in the UK increased in value from £61,564 to £162,850.” (The Guardian)