House Prices Fall

According to the latest figures from Halifax, house prices fell at their fastest rate for 18 months during April with the average cost of a home falling by 1.4%, during the month to £160,395, which is the lowest level since July 2009.

Prices have been up and down, dropping in seven months, rising in four and remaining unchanged in one month as the market continues to be unsettled. Despite the prices falling, Martin Ellis, Halifax housing economist said, "There are signs that house sales are stabilising, albeit at a lower level than the historical average."

These figures contrast with those reported by Nationwide for the same month, which showed that house prices remained broadly unchanged, dropping by just 0.2%, leaving values 1.3% lower than in April 2010.