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PPI refunds: House prices 'continue to fall'

Consumers currently seeking out PPI refunds may be concerned to hear that house prices are continuing to fall.

That is according to the Halifax House Price Index - March 2011, which revealed that house prices have fallen by 2.9 per cent compared to the same month last year.

They fell by 0.6 per cent on the quarter and 0.1 per cent compared to February's House Price Index.

Martin Ellis, housing economist, said: "House prices continue to fall at a modest pace as measured by the quarterly rate of change.

"The recent increase in employment, particularly those in full-time jobs, may have been an important factor supporting the market."

He added that uncertainty over the general economic outlook and "individual financial circumstances" are likely to lead to a constraint in house demand, which may, in turn, result in some "modest downward pressure on prices".

The average house price in the UK is now £162,912.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

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