Mortgage customers have seen a slight rise in house prices over the last month, according to new data from Halifax.
The lender’s House Price Index showed a 0.3 per cent increase between June and July, with the typical property now costing £163,981.
This represents a 0.5 per cent quarterly rise, but is actually 2.6 per cent down on figures from July 2011.
Housing economist Martin Ellis explained that prices in the three months to July were more positive than the previous quarter.
“This was the first increase in this key measure of underlying price movements for 14 months,” he noted.
“Overall, there has been little change in either the level of house sales or the number of properties on the market for sale since late 2010. These steady market conditions have helped to stabilise house prices in 2011 following last year’s modest decline.”
Meanwhile, Halifax recently announced a number of rate cuts across its mortgage range.
