Gary Styles, head of group economics at the Halifax, said: "The housing market has been very strong in recent months and the latest figures for April show further significant gains. Our economic assessment, however, is that house price inflation will ease over the course of this year as weaker income growth and higher unemployment reduces consumer confidence.
"First-time buyers are continuing to find it difficult to buy property in many parts of the country as supply shortages and high prices are preventing buyers from getting on to the property ladder. However, we expect that an easing in house price inflation in 2002 (particularly in London) will provide some welcome help to this important buyer group."
