The average house price continued to rise in March – but at a slower rate than the previous month, according to a closely-watched index.

The Halifax House Price Index shows that average prices rose by 0.8% in March – following a 1.2% rise in February, with the typical UK property now costing £287,880.

The annual rate of house price growth slowed to 1.6%, compared to the 2.1% seen in the past three months.