Halifax said UK house prices fell 0.5% in March to £299,677, while Zoopla and lenders pointed to weaker demand and higher mortgage-rate pressure linked to Middle East uncertainty.
Halifax said UK house prices fell in March as higher mortgage costs and softer buyer demand continued to weigh on the market.
The lender said average UK house prices dropped 0.5% month on month to £299,677, while annual growth slowed. The figures add to signs that the housing market is cooling after months of pressure from borrowing costs.
Zoopla said in a separate March update that sales activity remained steady for now, but buyer demand was weakening and uncertainty linked to events in the Middle East was pushing up mortgage rates.
That backdrop has left the market more sensitive to shifts in borrowing costs. Lloyds Banking Group said in late March it had seen no notable increase in customers falling behind on mortgage payments, while noting that many borrowers remain on fixed-rate deals.
The latest data suggests sellers and lenders are now facing a more cautious market as households weigh higher financing costs against a softer outlook for prices and demand.
Revision note
Initial automated publication.