The British housing market ended last year on a downbeat note with house prices falling by 1.1 per cent in December in comparison with the previous month, according to figures released today.
But the monthly survey by Halifax bank also showed that year-on-year, house prices rose by 3.1 per cent in December - a lower rate of annual increase than the 7.1 per cent seen in the previous month.
Halifax said much of the yearly fall was attributed to the hefty 2.6 per cent increase in prices seen in December 1999 and was therefore expected.
PA