Halifax economist Martin Ellis
Media playback is unsupported on your device

'Anaemic' housing market sees prices fall - Halifax

House prices in the UK are dropping gently, according to figures from major mortgage lender Halifax.

Its latest monthly survey shows that prices fell by 0.7% in October, to an average of £158,426. This left house prices 1.7% lower than they were a year ago.

The lender's housing economist, Martin Ellis, said most of that annual drop had taken place in the past few months and reflected the poor state of the economy this year.

Go to next video: Fife home owner turns creative