UK house prices fall for first time in six months amid more costly mortgages

Drop in March leaves average price of home at 288,430, says Halifax

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UK house prices fell in March for the first time in six months as more costly mortgage deals and continued uncertainty about when the Bank of England would start cutting interest rates hit the property market.

House prices fell by 1%, or 2,908, in March compared with February, according to Halifax's house price index. The average property now costs 288,430. Compared with the same month last year, property prices were up 0.3%.