Annual house prices growth has ground to a halt, according to Halifax, while prices in the south of England have come under the greatest pressure.

Nationally, average property prices are largely unchanged from this time last year, with the rate of annual house price inflation slowing to 0.1pc, from 1.6pc in March.

House prices fell 0.3pc in April compared to the previous month, following a 0.8pc rise in March.

This meant the average property value in April was £286,896, Halifax said, compared to £287,880 in March.

The four regions of southern England have seen average house prices fall over the last year, with the South East registering the largest dip, down 0.6pc to an average house price of £387,469.

It comes after figures from rival lender Nationwide indicated that house prices grew for the first time in eight months in April amid signs that mortgage applications are picking up.

The lender said prices rose by 0.5pc compared to the previous month, with the annual rate of price declines also slowing to 2.7pc from a fall of 3.1pc in March.

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