Further signs of a steadying in the UK house market have emerged after figures from lender Halifax showed that prices rose by 0.3% in July.
The bank added that prices were up on a quarter-to-quarter basis for the first time in 14 months, following a 0.5% rise in the three months to July.
With little change in either the level of house sales or the number of properties on the market since late 2010, Halifax said the steady market conditions have helped to stabilise house prices.
Halifax housing economist Martin Ellis said: 'This pattern is expected to continue over the rest of the year with little genuine direction in either house prices or sales.'
The average UK house price in July was marginally higher than in December on a seasonally adjusted basis at £163,981. But the figure is still 2.6% lower than a year earlier, based on the average for the three months to July.
