Halifax released its latest property price date and echoed the news from Nationwide, stating that the average price of a home was down 2.3% in February.
This was back to the general downward trend of property prices over the last year as opposed to the increase that was seen in January.
HBOS housing economist Martin Ellis did however have some positive comments stating “While market activity remains at very low levels, there are some tentative signs that activity may be beginning to stabilise. The house price to earnings ratio – a key measure of housing affordability – has fallen to its lowest level for six years”.
1: BBC News