Halifax reports 0.1% fall in house prices in November

| December 9, 2010
Halifax reports 0.1% fall in house prices in November

The Halifax has today revealed UK house prices fell by 0.1% last month compared with October.

The latest house price fall takes the average cost of a UK home to A?164,708, the Halifax said.

According to the lender, which is now part of the Lloyds Banking Group, buyer demand continues to be weak amid economic uncertainty and a higher number of instructions on the market is pushing down prices.

Meanwhile, house prices are now 0.7% lower than a year ago, said the Halifax.

Last week, the Nationwide Building Society reported a 0.3% fall for the month of November compared with October a�� the fourth time in five months that prices registered a fall.

The Nationwide said house prices are now just 0.4% higher than this time last year with the average UK home costing A?163,398.

There is little good news surrounding the housing market currently with housing surveys suggesting the market is cooling.

House sales are down, while mortgage approvals continue to slump.

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