Halifax mortgage research reveals a drop in house prices.

According to Halifax mortgage research, UK housing market growth slightly weakened in February this year.

Data from the Halifax Mortgage House Price Index for February showed that for the 3 months up to February 2012, house prices were 1.1 per cent lower than the proceeding 3 month period. This was a slightly negative trend for the 5th consecutive month.

Looking at the Halifax data on a purely monthly basis, the lender advises that house prices fell by 0.5 per cent in February, which follows January's 0.6 per cent increase, thereby continuing the mixed monthly house price pattern seen over the past 12 months.

Moving on to March, the Bank of England's figures support the Halifax mortgage research showing a mixed monthly house price pattern, according to BOE figures house prices rose by 1.1 per cent taking them back to pre February price levels.

Halifax mortgage data reveals that the news could be positive for first time buyers who have missed the stamp duty holiday. Property values rising one month and falling back the next is keeping prices level making property more affordable for first time buyers.

Affordable prices in conjunction with increased availability of 5 per cent deposit mortgage products means now is the time to contact Deal Direct for a competitive deal. House purchase is possible for first time buyers but the key is to make a move now. You need to find both a property and a deal soon before mortgage rates and house prices begin rise.

Deal Direct can source a competitive UK mortgage deal on your behalf so contact us today.