House prices across the UK went down by 0.7% last month – an annual drop of 1.7% – to stand at an average of £158,426.
The Halifax’s figure is lower than that of Nationwide which put October house prices at an average of £164,153.
Separately, a housing market report from the National Association of Estate Agents said that the amount of available sales stock was one-third down on peak levels.
In September, the NAEA said that agents had an average of 62 properties for sale per branch, up from the average of 60 in August, but lower than the average 100 per branch in December 2008.
According to the NAEA, the number of sales per branch averaged seven in September – unchanged for seven months. The number of applicants fell from 288 in August to 275 in September.