Latest Insurance News
House prices fall 1.5% in February
05 Mar 2010
Posted by Jonathan Walker
House prices fell by 1.5 per cent in February, marking the first decline since June 2009, property insurance policyholders have been told.
Figures from Halifax showed that despite this fall, the average price is still eight per cent above the trough in April 2009.
Prices in the three months to February were 1.8 per cent higher than in the preceding quarter, compared to a 3.2 per cent rise on the same basis in January.
Although prices were lower this month than last, they still rose by 4.5 per cent year-on-year, property insurance policyholders may be interested to learn.
Halifax said an improvement in market conditions had encouraged more homeowners to attempt to sell their property.
This increase in supply led to the lower prices, it suggested.
Nationwide's latest index showed that house prices fell by one per cent month-on-month in February, with the bank suggesting the snowy weather could have been a factor in the decline.
