Property Renovations Ely Ltd

The latest monthly figures from Halifax, the UK’s largest mortgage lender, reveal that house prices fell by 2.5% in March, the biggest monthly decline since September 1992. Prices are now just 1.1% higher than they were a year ago, the slowest annual growth rate for 12 years.

The Halifax has also revised its predictions and now expects prices to fall over the course of this year. The Nationwide took a similar stance earlier this month after reporting that prices had fallen for five months in a row.