The Halifax House Price Index for April showed a large fall of 1.3 percent, a significant fall in the period of just one month.
Predicting the state of the housing market for the rest of the year the Halifax anticipate an overall fall that will be less than 10 percent, though there will be large differences in this depending on where in the country they are. They expect prices to actually go up in Scotland for example, though houses in the West Midlands and Wales are forecast to see heavier than average price falls.
A Halifax spokesman suggested that the falling prices should be seen against their recent history of strong price rises for several years. In this context house prices can still be seen to be very strong compared with the long term trends.