House prices up by 0.3% in July

FURTHER signs of a steadying in the UK house market have emerged after figures from the Halifax showed prices rose by 0.3 per cent 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 per cent 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.

"This pattern is expected to continue over the rest of the year, with little genuine direction in either house prices or sales," a Halifax economist said.