House prices fall by the most in south east, says Halifax

The value of a home in south east England has dropped by £15,500 over a year after the region recorded the sharpest fall in house prices in July.

It said average prices fell by 2.4% in the year to July, valuing a typical home at £285,044. That is slower than the 2.6% decline recorded in the year to June.Some regions saw sharper drops than others. The value of a home in south east England dropped to £382,489 in July. Greater London also saw prices drop by 3.5% in July, but the average price is much higher at £531,141 compared to other regions.

The north east of England remains the cheapest place to buy a home with the average price being £167,594.

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