House prices down in June, Halifax finds

Posted: 09 Jul 2010 11:20:01 GMT

The average value of a property in the UK dropped by 0.6 per cent in June on a month-on-month basis, new research has revealed.

Released by Halifax, the House Price Index showed that typical costs for a home dropped to £166,203, which is still 6.3 per cent higher than figures for June 2008.

Martin Ellis, housing economist at the company, said: "This continued the slowdown in house price growth since the beginning of the year following the moderate recovery in prices during much of 2009."

He added that the drop is not significant and is indicative of a stabilising market which will see house prices remain at around the same level for the rest of the year.

Recent figures from Nationwide showed properties in the south-west rose in value by an average of three per cent during the second quarter of 2010, compared with the first three months of the year - the strongest house price growth in the country.


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