House prices steady but Halifax warn that the fall will continue.

According to the Halifax house prices stabilised in March but analysts are not hopefull that the market has found its floor.

According to the lender's price index, the average price of a house rose 0.1% month on month to £162,912 but the quarterly rate of change, which gives a better view of the underlying trend, showed a 0.6% fall.

That was the fourth such drop in a row, but not as steep than those seen in the third and fourth quarters of 2010 when prices fell 1pc and 1.1pc respectively.

"The recent increase in employment, particularly those in full-time jobs, may have been an important factor supporting the market," said Martin Ellis, housing economist at Halifax.