October 5, 2018 / 7:44 AM / in a month

UK house prices record biggest fall since April - Halifax

LONDON, Oct 5 (Reuters) - British house prices fell at the fastest pace since April last month, and the year-on-year rate on price increases slowed to a three-month low, figures from mortgage lender Halifax showed on Friday.

House prices dropped 1.4 percent on the month in September after a 0.2 percent fall in August, and are 2.5 percent higher than a year earlier, the smallest annual rise since June.

“The annual rate of growth is near the top of our forecast range of 0-3 percent for 2018, as a low supply of new homes and existing properties for sale, combined with historically low mortgage rates and a high employment rate, continue to support house prices,” Halifax managing director Russell Galley said. (Reporting by David Milliken; editing by Sarah Young)

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