Halifax: House prices fall for first time in 11 months in December Halifax confirms 0.6% per cent fall in December but 7.5% rise across 2013 Similar rise tipped for 2014 51% of owners see coming year as a good time to sell House prices last month fell for the first time in almost a year but continued to rise annually, according to the latest Halifax survey, with a majority of owners now viewing 2014 as a good time to sell. Despite a 0.6 per cent drop in December - the first decrease since January 2013 - house prices grew by 7.5 per cent year-on-year, remaining close to a six-year high of 7.7 per cent recorded in November. December's fall brought the average house price down from £174,564 in November 2013 to £173,467, but Halifax said that monthly price movements can be "volatile" and on a quarterly basis, which is generally a more reliable indication of the underlying trend, prices lifted by 1.9 per cent. Price boom: This year both Halifax and Nationwide have reported stellar property value growth In recent research, Halifax also said that sentiment towards selling over the next twelve months was improving, with the proportion of people thinking it would be a good time to sell (51 per cent) outweighing those who say it would be a bad time (39 per cent) for the first time since the survey begun in 2011. Martin Ellis, Halifax housing economist, said: "The recent strengthening in house prices is increasing the amount of equity that many home owners have in their home. This will potentially encourage and enable more owners to put their property on the market for sale over the coming year, therefore boosting supply. Indeed, our consumer confidence research shows that there has been a significant improvement in sentiment towards selling in recent months. These factors should help to curb the upward pressure on prices. Property gains: December saw the first fall in house prices for 11 months - but the annual rise remains at 7.5 per cent. Halifax has predicted that house prices are set to rise this year at a similar pace to 2013, with an increase of between 4-8 per cent across the UK over 2014. A lack of homes on the market is one of the main factors which housing market experts say has been pushing up house prices as demand from would-be buyers has been increasing in recent months amid Government schemes such as Help to Buy to give people a helping hand on or up the property ladder. Halifax's study comes after building society Nationwide recently reported that house prices surged by 8.4 per cent over 2013 across the UK as the market revival became increasingly broad-based across the country. The 8.4 per cent annual rise in property values was the biggest since June 2010. Howard Archer, chief UK and European economist for IHS Global Insight, said: "Latest surveys and data on the housing market are largely robust and there is a very real risk that a new housing bubble could really develop in 2014 - especially as the strength in house prices is becoming widespread." Mark Harris, chief executive of mortgage broker SPF Private Clients, highlighted toughened mortgage lending rules which are set to come into force in April. The Mortgage Market Review rules are being put in place to make sure there is no return to irresponsible lending and that borrowers can only take out deals that they can afford to pay back. Mr Harris said: "Lenders are keen to have a strong first quarter and continue to offer some extremely attractive mortgage rates. With the Mortgage Market Review set to be introduced at the end of April, this will likely lead to a slowdown in lending as lenders get to grip with the changes they need to introduce.