House price growth slows for second month running, says Halifax

House price growth has eased for the second month running, according to Halifax data.

The building society said in its latest house price index that prices were up just 1.6% in the three months to December.

That follows a 1.4% rise in the three months to November.

Martin Ellis, Halifax housing economist, said: "This was the second successive month that this measure has been below 2.0%, indicating a possible slight softening in the underlying rate of price growth."

On an annual basis growth had quickened to 9.5% compared to November's reading of 9%.

It meant the average cost of home was £208,286 in December.

Ellis added that that growth could soon pick-up.

"There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale.

"This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices."