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 £7,140 off the average price of a home to £220,962 last month.
“The Halifax index is by far the most volatile measure of house prices … so it would be a mistake to sound the alarm over April’s huge fall in prices,” Samuel Tombs, economist at Pantheon Macroeconomics, said.
“A period of broadly flat house prices, therefore, remains the most likely outcome,” he added.