Green shoots of recovery in the housing market?

The latest house price survey from the Halifax has showed that house prices rose by 0.3% in July. In a possible sign that house prices may have stabilised and even started to rise, albeit modestly, the Halifax also reported that prices were up on a quarter to quarter basis for the first time in 14 months. However according to the survey prices are still 2.6% lower than this time last year, with the average house in the UK worth £163,981. Martin Ellis, housing economist for the Halifax, said: "Overall, there has been little change in either the level of house sales or the ...

House prices rose by 0.6 per cent in July according to Halifax report

House prices in the UK have risen by 0.6 per cent in July making up for the fall in June, according to a report from the Halifax. This puts prices at 8.3 per cent higher than the lowest level recorded in April 2009 but still 16 per cent lower than the peak in August 2007. Martin Ellis, housing economist at the firm, said: "House prices increased by 0.6% in July, reversing the fall in June. Overall, there has been little change in prices during 2010 so far. The mixed pattern of monthly rises and falls over the first seven months of the year is consistent with a slowing market. It is also in line with our view that house prices will be broadly unchanged over 2010 as a whole".