India, April 5 -- UK house prices declined for the first time in six months in March, data published by the mortgage lender Halifax showed Friday.
House prices dropped 1.0 percent on a monthly basis in March, in contrast to the 0.3 percent rise in February. This was the first decrease since September. Prices were expected to climb 0.3 percent. On a yearly basis, house price growth eased to 0.3 percent from 1.6 percent in the prior month. Prices were expected to climb 1.5 percent.
A typical house now costs GBP 288,430, which was around GBP 2,900 less than last month.
Despite the fall, house prices have shown surprising resilience in the face of significantly higher borrowing costs, Halifax Mortgages Director Kim Kinnaird said.
Affordabil...