Prices fell 3.1 per cent in April
Marking the biggest drop since September 2010, British house price growth unexpectedly cooled in April, mortgage lender Halifax said today.
The lender said that prices tumbled 3.1 per cent, the biggest fall since September 2010, knocking ยฃ7,140 off the average price of a home to ยฃ220,962 last month.
โThe Halifax index is by far the most volatile measure of house prices โฆ so it would be a mistake to sound the alarm over Aprilโs huge fall in prices,โ Samuel Tombs, economist at Pantheon Macroeconomics, said.
โA period of broadly flat house prices, therefore, remains the most likely outcome,โ he added.
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