House prices ‘held up well’ against a wave of economic gloom to fall by 1.3 per cent in 2011, Halifax has reported.

The major lender has forecast that property prices will continue to tread water this year but admitted that major storm clouds threaten.
Halifax said that house prices fell by 0.9 per cent in December to an average of £160,063, on its index, and were down 0.1 per cent in the final three months of the year.

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stalled: The property market has struggled but prices could have fallen further considering the economic gloom


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