House prices drop, no crash expected, says Halifax

August typically suffers from price deflation, and this year was no different. Also, the lender's own index suggests prices have dropped one month out of every six in the past five years. In that time the average house price has gone up by about 100% to the current £160,565, Halifax says. However, August was the third month in a row to experience a slowdown or even fall in prices, indicating a trend has been set by reactions to rising interest rates. Annualised inflation remains at 21.3%, but prices went up just 1.8% between June through August, and Halifax expects continued fal...