House prices dip 1.3%

The Halifax found prices in the final three months of 2010 were 0.9% lower than in the previous quarter, but the drop was far less than the quarterly falls of 5-6% during the second half of 2008. On an annual basis, prices in December were 1.6% lower as measured by the average for the last quarter, against the same period in 2009. Prices in December alone were 3.4% lower than in December 2009. Martin Ellis, Halifax housing economist, says: "Looking forward, we expect limited movement in house prices during 2011 but with the risks on the downside. “Current signs that homeowners are ...