The Halifax House Price Index (HPI) down by -1.5% in February. Halifax, now owned by Lloyds, is the UK’s largest mortgage lender and the second organisation to release HPI figures for February.

Like with Nationwide HPI, down -1%, Halifax have shown a drop in House Prices in January compared to December, but an increase, 4.5%, over the whole year. Nationwide reported a 9.2% increase.

“House prices fell by 1.5% in February, the first decline since June 2009 following seven consecutive monthly increases. Despite this fall, the average price is 8.0% above the trough reached in April 2009.” Martin Ellis, housing economist.

Not surprisingly Martin Ellis attributes the reduction to the bad weather in early 2010 and the return of the lowest stamp duty threshold.

However he believes that “An increase in the number of properties available for sale has helped to reduce slightly the imbalance between supply and demand. ”

For more information visit: http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp

More from Just Do Property:

• Halifax HPI: up 1.1% on February, 5.2% yearly growth
• Halifax HPI: April sees static prices but 6.6% on last year.
• “House prices slip in the winter snow during February” Nationwide HPI down -1%
• CML: loans advanced in February up 12%
• DCLG: HPI Up 7.4% since Feberuary 2009