UK house prices down 1.2% in last year

House prices in the UK continued to edge lower last month and the market is expected to remain subdued but stable into 2013, the Halifax building society said today.

The average UK house price fell to £159,486 (€199,014) in September, representing a 1.2% fall on a year ago and a 0.4% drop month-on-month, the bank’s figures showed.