The fall represents the biggest fall since last December and has pulled annual house price inflation down to 10.7%, its lowest level since May, according to Halifax, the UK's Britain's largest mortgage lender.
However, Halifax played down the news. It said that a combination of monthly rises and falls is a typical feature of a more subdued market and added that there is no concrete evidence that the credit crunch is having an impact on the housing market, although it admitted it is still early days.
Given the latest data, the average cost of a home in the UK continues to hold just below the £200,000 mark at £198,500.
Halifax said house price growth had been slowing since the end of 2006, with prices rising by just 0.9% during the third quarter of the year, down from a gain of 2.3% in the second quarter and 3% during the first three months of 2007.
• Interest calculator
Saturday, 6 October 2007
Subscribe to:
Posts (Atom)
