House prices fell by 3.1 per cent in April in biggest monthly decline for seven and a half years
The average UK house price is now £220,962 with the fall following a 1.6% drop in March
HOUSE prices fell by 3.1 per cent in April — the biggest monthly decline since September 2010.
It took the average UK house price to £220,962, Halifax said.
The fall followed a 1.6 per cent rise in March.
Russell Galley, managing director, Halifax, said: "Housing demand has softened in the early months of 2018, with both mortgage approvals and completed home sales edging down.
"Housing supply - as measured by the stock of homes for sale and new instructions - is also still very low.
"However, the UK labour market is performing strongly with unemployment continuing to fall and wage growth finally picking up."
TV property show presenter Sarah Beeny, of estate agent Tepilo.com, said: “I think this drop in growth is a blip caused by some very bad weather and we’ll see a steady, sustainable growth in the rest of 2018.”