Growth in UK house prices slowed in March, according to data from Halifax.

According to the mortgage lender, average house prices edged up 0.8% in March on a monthly basis. Growth slowed from a 1.2% climb in February. Annually, growth in house prices slowed to 1.6% in March, from the 2.1% climb seen in each of the previous three months.

“This is the weakest rate of annual growth in nearly three-and-a-half years (October 2019), having fallen markedly since June 2022’s peak of 12.5%,” said Kim Kinnaird, Halifax Mortgages director.