The latest Halifax house price indexed shows that the average cost of a house increased by 1.3% (£2,500) to £197,000 in December. This follows 3 months of drops. The brings the annual rate of increase to just 5.2% in 2007.
In contrast, the Nationwide's figures showed a fall of 0.5% in the same month. The Halifax's 3 month figure showed a drop of 0.8% in the fourth quarter of 2007. This is the first quarterly drop since mid 2000 and the largest since 1995.
Halifax said a mix of monthly rises and falls was typical of a subdued property market and said it expects house prices to be flat during 2008.
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