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U.K. April Halifax House Prices Fall More Than Expected

U.K. house prices declined 2.4 percent in April from a month ago, bigger than the expected 0.3 percent drop, data from the Lloyds Banking Group's Halifax division revealed Friday.

The decline more than offset the previous month's 2.2 percent increase as prices continue to fluctuate.

Prices in the three months to April were 0.5 percent lower on a yearly basis. This measure of the annual rate improved slightly from 0.6 percent decrease in March and showed the smallest fall in prices since October 2010.

"We continue to expect little overall movement in prices as the UK economic situation remains challenging," Martin Ellis, housing economist said.

by RTT Staff Writer

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