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| Version 4 | Version 5 |
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| House prices fall for third consecutive month | House prices fall for third consecutive month |
| (25 days later) | |
| House prices fell for the third month in a row in September, according to the latest monthly report from mortgage lender Halifax. | House prices fell for the third month in a row in September, according to the latest monthly report from mortgage lender Halifax. |
| The average UK house price in September 2012 was £159,486, 0.4% lower than August and 1.2% lower than September 2011. The index also recorded a quarterly decline of 0.5%. | The average UK house price in September 2012 was £159,486, 0.4% lower than August and 1.2% lower than September 2011. The index also recorded a quarterly decline of 0.5%. |
| Halifax's housing economist Martin Ellis blamed the recession for the "slight deterioration", but added that the relatively low mortgage payments in relation to income "continues to provide support for house prices". | Halifax's housing economist Martin Ellis blamed the recession for the "slight deterioration", but added that the relatively low mortgage payments in relation to income "continues to provide support for house prices". |
| He added that mortgage payments as a ratio of earnings have fallen from a high of 48% in 2007 to 26% in the third quarter of 2012. | He added that mortgage payments as a ratio of earnings have fallen from a high of 48% in 2007 to 26% in the third quarter of 2012. |
| Commentators said the figures showed a continued lack of confidence in the housing market. Howard Archer of IHS Global Insight said he expected house prices to drift down by about 3% from current levels "in the face of limited market activity, still low and fragile consumer confidence, and muted earnings growth". | Commentators said the figures showed a continued lack of confidence in the housing market. Howard Archer of IHS Global Insight said he expected house prices to drift down by about 3% from current levels "in the face of limited market activity, still low and fragile consumer confidence, and muted earnings growth". |
| Buying agent Gabby Adler said: "It is fair to say there is now a slight deterioration in outlook. There is still a lack of confidence and until it returns, house prices on the whole will be flat and bump along the bottom, give or take a few variations from region to region." | Buying agent Gabby Adler said: "It is fair to say there is now a slight deterioration in outlook. There is still a lack of confidence and until it returns, house prices on the whole will be flat and bump along the bottom, give or take a few variations from region to region." |
| The monthly drop matches Nationwide's recent house price announcement, which also showed a 0.4% fall but put the annual decline at 1.4%. | The monthly drop matches Nationwide's recent house price announcement, which also showed a 0.4% fall but put the annual decline at 1.4%. |
| According to Halifax, the average home is worth 20.1% less than it was in August 2007, when the average price peaked at £199,612. The lender expects house prices to remain "broadly unchanged over the rest of this year and into 2013." | According to Halifax, the average home is worth 20.1% less than it was in August 2007, when the average price peaked at £199,612. The lender expects house prices to remain "broadly unchanged over the rest of this year and into 2013." |
| Top mortgages | Top mortgages |
| Chelsea Building Society | Chelsea Building Society |
| Yorkshire BS | Yorkshire BS |
| Yorkshire BS | |
| Provided by London & Country for the Guardian | Provided by London & Country for the Guardian |