UK house prices fell by 0.5% in first quarter

House prices in Britain fell slightly at the start of the year. The value of property in London increased but prices in Northern Ireland fell the most. UK house prices fell in the first quarter of this year, a survey from the Department of Communities and Local Government (DCLG) has shown. The study highlighted that prices were down by 0.5% when compared to the last quarter of 2010. Despite this, prices were still 0.9% higher than figures recorded a year ago due to a 1.2% rise in March alone.