UK house prices fall for first time since March

By Mucahithan Avcioglu

ISTANBUL (AA) - UK housing prices saw a month-on-month fall of 0.2% in December, the first drop since March 2024, data from mortgage lender Halifax showed on Tuesday.

The figure followed a 1.3% increase in November, the largest monthly rise since June 2022.

On an annual basis, house prices climbed 3.3%, lower than a forecast 4.2% rise.

House prices in December averaged £297,166 ($373,260).

Amanda Bryden, head of mortgages at Halifax, said house prices were affected by the falls in mortgage rates and income growth.

House prices also increased with demand overwhelming supply, she said.

Pointing to how house prices might fare this year, she added: "Providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well and, taking all this into account, we’re continuing to anticipate modest house price growth this year.”