FURTHER signs of a stabilising housing market emerged today when the nation's biggest lender said house prices were unchanged last month.

The Halifax said the no-change result for April meant there had been no movement in UK house prices since January.

The year-on-year rate of inflation fell to 7.8 per cent, leaving it at its lowest level since June 2001, and was expected to fall further in the coming months.

Halifax chief economist Martin Ellis said: "The latest indicators provide further evidence that activity levels are stabilising following a sharp downturn in the second half of last year."

It followed a monthly rise of 0.5 per cent in the lender's last survey. Tweet