House prices steady but have further to fall, analysts warn - Telegraph

House prices steady but have further to fall, analysts warn - Telegraph

The average price of a house rose 0.1pc month on month to £162,912, according to the lender's price index.

The quarterly rate of change, which gives a better view of the underlying trend, showed a 0.6pc fall.

That was the fourth such drop in a row, but not as steep than those seen in the third and fourth quarters of 2010 when prices fell 1pc and 1.1pc respectively.

"The recent increase in employment, particularly those in full-time jobs, may have been an important factor supporting the market," said Martin Ellis, housing economist at Halifax.

However, analysts think prices have further to fall.