Halifax reveals house price cut

Halifax has revealed that the price of homes fell in April on both a monthly and an annual basis.

Figures from the bank show that last month there was a 1.3 per cent dip in prices, while the last 12 months have now seen a 0.9 per cent dip.

These findings follow other recent polls showing the same pattern, such as Nationwide's statistics, produced last week that revealed a 1.1 per cent monthly drop and a one per cent annual fall.

Such news may increase the concern among many that buying a house now could open the door to possible negative equity should this trend of falling prices continue.

Those wishing to avoid this may seek to use the self build method to create a buffer between the amount spent on buying the land and building such a house on the one hand and its final value on the other.



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