Overheating or not? UK property prices saw their biggest fall in nearly two years in March.<br /><br />Figures from the Halifax mortgage lender showed prices were down by 1.1 percent from the previous month. <br /><br />However, year-on-year the average cost of a home was 8.7 percent higher between January and March compared with the same period last year. <br /><br />That matched recent similar data from another big lender, Nationwide which said price rises had “moderated” in the last couple of months.<br /><br />This comes amid concerns about a fresh bubble developing in the UK housing market. <br /><br />The sector has been buoyed by record low interest rates and government schemes to help people without a large deposit.<br /><br />Rising property prices have been a key engine of Britain’s surprisingly fast recovery. <br /><br />Bank of England officials have said they are vigilant about momentum in the market.<br /><br />Prices in London continue to soar, and the average is now double that in the rest of Britain.
