Halifax: House prices fell 1.3 per cent in 2011
Halifax's new House Price Index has shown that property values fell by 1.3 per cent from December 2010 to the same month in 2011.
This was a decline of 0.1 per cent on the previous quarter and 0.9 per cent less than the values recorded in November 2011.
According to the Halifax, the average house in Britain is now priced at £160,063.
The data presented a very mixed picture of last year as a whole, with six months of price dips, five months of increases and one month in which values stayed the same.
Housing economist Martin Ellis said: "House prices held up well last year in the face of the difficult and deteriorating economic climate and substantial pressure on households' finances.
"If the UK can avoid recession, we expect broad stability in house prices in 2012."
However, Mr Ellis acknowledged that the uncertainty regarding the UK's economy is being exacerbated by that in the eurozone, so if circumstances do not improve on the continent, house prices may continue to be affected at home.
He also pointed out that people may choose to reduce their debt this year instead of investing in new homes.
Earlier this month, Land Registry said house prices fell in November 2011 when compared with the figures from 2010, pointing to a 1.9 per cent decrease for the average property.
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