UK mortgage lender Halifax has released data regarding housing market and home prices.  A slight increase in home prices of 1.2% has occurred in the month of October.  This is still almost 2% lower compared with the same month last year.  The October house price index hot off the press also indicated that the market will experience more of the same well into next year, as unemployment continues to increase and a poor economic outlook prevails.

Compared with the three months to July, the quarter prior to October posted a 0.3% drop in prices.  These figures are continuing to tell a story of struggle and challenge within the housing market, the cornerstone of the economy.

Martin Ellis, economist for Halifax, commented on the movement of home prices within the UK, saying: "Whilst there have been five monthly price rises, four falls and one month of no change, there has been little change in prices during 2011 overall.

"House sales and the supply of properties for sale have remained very stable since late 2010 ... Both prices and activity levels are expected to remain close to current levels over the coming few months."

Charles Bean, deputy governor of the Bank of England, discussed the possibility of bank funding entering a shortage period for consumers and businesses unless Eurozone region banks begin to rise up a bit. 

He said: "Though U.K. banks' exposure to peripheral country debt is relatively modest, interlinkages with euro-area banks that are more heavily exposed have meant that U.K. banks have also experienced heightened funding difficulties in recent weeks.”