Prices hit three-year low

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The Independent Online

House prices are at their lowest in nearly three years, but Britons are more optimistic of a market bounceback, lender Halifax said yesterday.

The average house price slid by 2.4 per cent to £159,883 in April, as the end of the stamp duty exemption in March put off buyers. Prices are now at their lowest since July 2009.

Despite the news, nearly four out of 10 people reckon the house market will rise this year against 20 per cent predicting a fall, according to the lender's market confidence survey.