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The pound was down by 0.3 per cent to $1.5503 and 83.23 pence per euro by 13:26 GMT, Bloomberg reports.
Halifax announced today that the average cost of a property in the UK had dropped by 1.3 per cent in December to £162,435 compared to November.
Steve Barrow, Standard Bank Plc's head of research for Group of 10 currencies in London, said the majority of indications about the housing market are not positive.
He added: "Sterling opened up on a fairly solid note earlier this morning, especially against the euro, so I think that news has set us back."
But this comes after the pound hit a four-month high against the single currency this morning due to concerns about sovereign debt issues in the eurozone, Reuters reported.
Posted by Greg Secker
