Live news: UK house prices are falling after 3 months of growth, Halifax finds

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Mortgage firm Halifax said UK house prices fell after three months of growth and were unchanged from last year as inflation and higher borrowing costs affected income.

Prices fell 0.3 percent between March and April, partly reversing an expansion of 0.8 percent in the previous month.

The downturn at the end of 2022 precedes a “first-quarter rebound,” Kim Kinnaird, director of Halifax Mortgages, said on Tuesday.

A typical property would cost £286,896, around £7,000 lower than last summer’s peak but £28,000 higher than two years ago.

Halifax’s figures contrast with those reported in a nationwide poll that showed a rise of 0.5 percent.

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