According to the lender's latest index, there was zero monthly change in house prices, although the fact that the latest data failed to show any positive growth reinforces that fact that there is an ongoing market weakness.
As a result, Halifax remains confident in its original prediction of a flat housing market in 2008.
The market will however remain supported by rising levels of employment - a key driver of housing demand. The governmental figures showed this number rising by 263,000 over the past year to a record 29.36 million.
The number of mortgage approvals to fund house purchase in the final three months of 2007 also dropped by 35 per cent compared to the same period in 2006.
