Halifax reveals 1.9% fall in house prices

The figure is in stark contrast to the index published earlier this week by Nationwide Building Society, which suggested prices actually increased over the past month. According to Halifax, the annual change in house prices is now -17.5%, taking the average house price down to £157,326, the same region as in May 2004. However, on the positive side the fall in March was smaller than the fall recorded in February, while the decline in prices across Q1 of 2.7% was significantly smaller than the 5-6% falls recorded in each of the previous three quarters. Martin Ellis, housing economist at...