House prices fall 0.5 per cent

City A.M. Reporter
British house prices dipped 0.5 per cent in February, largely offsetting January's 0.6 per cent rise, data from mortgage lender Halifax showed.

House prices fell 1.9 per cent in the three months to February compared with a year ago, taking the average price of a home to £160,118.

Lower inflation in the coming months should reduce some of the pressure on household incomes, helping to support housing demand, Halifax said.