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House prices suffer first fall since August - Halifax
February 7, 2017 / 9:03 AM / 10 months ago

House prices suffer first fall since August - Halifax

LONDON (Reuters) - British house prices suffered their first fall in monthly terms since shortly after June’s Brexit vote, mortgage lender Halifax said on Tuesday, a latest sign of a slowing in the housing market.

A row of houses are seen in London, Britain June 3, 2015. REUTERS/Suzanne Plunkett

House prices fell 0.9 percent in January alone after a 1.6 percent surge in December. A Reuters poll of economists had pointed to house prices remaining flat on the month.

It was the first fall since August of last year.

Annual house price growth cooled to 5.7 percent, down from 6.5 percent in December and again weaker than the Reuters poll forecast.

Halifax said house prices would continue to be supported by a shortage of properties for sale and low levels of house building, but also dampened by weaker economic growth and increasing pressure on spending power.

Last week rival mortgage lender Nationwide said British house prices rose at their slowest annual rate in more than a year last month.

Reporting by Andy Bruce; Editing by William Schomberg

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