Latest index reveals monthly house prices fell for first time since October 2014.
House prices fell 0.3% between January and February, according to the latest Halifax House Price Index.
It's the first monthly fall recorded since last October, and followed a 1.9% increase between December and January.
[SPOTLIGHT]As a result, annual house price growth fell from 8.5% in January to 8.3%.
Halifax says the cost of a home in the UK is now £192,372.
House price changes
Here’s how house prices have changed over the last year according to the Halifax House Price Index.
|
Month/year |
Average house price |
Monthly change |
Quarterly change |
Annual change |
|
February 2014 |
£180,439 |
2.6% |
2.4% |
7.9% |
|
March 2014 |
£177,996 |
-1.4% |
2.2% |
8.7% |
|
April 2014 |
£177,524 |
-0.3% |
2.2% |
8.5% |
|
May 2014 |
£184,566 |
4% |
1.8% |
8.7% |
|
June 2014 |
£183,825 |
-0.4% |
2.3% |
8.8% |
|
July 2014 |
£186,073 |
1.2% |
3.5% |
10.2% |
|
August 2014 |
£186,101 |
0% |
2.9% |
9.7% |
|
September 2014 |
£186,898 |
0.4% |
2.7% |
9.6% |
|
October 2014 |
£186,223 |
-0.4% |
0.9% |
8.8% |
|
November 2014 |
£187,197 |
0.5% |
0.8% |
8.1% |
|
December 2014 |
£189,304 |
1.1% |
0.3% |
7.8% |
|
January 2015 |
£192,954 |
1.9% |
1.8% |
8.5% |
|
February 2015 |
£192,372 |
-0.3% |
2.6% |
8.3% |
Source: Halifax
Halifax pointed out that house price growth is picking significantly when looked at by quarter, and put this down to increased demand as a result of wage rises, further falls in mortgage rates and Stamp Duty changes.
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