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 £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 – 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 £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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