House prices flat in April-Halifax

The small decline follows a 1% increase in property prices in March. Annual property price inflation now stands at 6.6%, according to the Halifax. Martin Ellis, housing economist, says: "The underlying rate of house price growth has slowed in recent months following the relatively sharp rebound, albeit from a low base, in the second half of 2009. The improvement in house prices since spring 2009 has encouraged more people to try to sell their property. "New sales instructions have risen, helping to push up the stock of unsold properties in recent months. As a result, the imbalance bet...