FALL IN PRICE OF PROPERTY

House prices have fallen for the first time in six months.

Figures from mortgage lender the Halifax found the average home dropped 0.6% to £225,021 in December.

It meant the rate at which prices rose in the final three months of 2017 slowed from 3.9% to 2.7% year on year.

The average property still rose £5,280 in value during 2017 – more than £14 a day.

The Halifax reckons a shortage of homes for sale or being built means prices will be either flat or rise up to 3% this year.