The Halifax House price Index for July shows a continuing picture of a flat UK Housing Market, which considering the wider external pressures on the economy is good that it is at least relatively stable.
The Average House Price in July was recorded down by -0.6%, however this follows two consecutive months of price rises, so was that not surprising.
Key Facts and Figures are:
- The average UK House Prices is £161,094
- So far this year there have been four monthly prices and three falls.
- Over the more stable three months period leading up to July, the prices were unchanged against the previous three months
- The yearly change in house prices in July 2012 compared to July 2011 show a fall of -0.6%
- Nationally house prices are at a similar level as they were in the summer of 2009
Commenting, Martin Ellis, housing economist, said:
“The underlying trend in house prices was flat in the three months to July compared with the previous three months. House prices fell by 0.6% in July following consecutive increases in May and June as prices continue to fluctuate on a monthly basis.
“At a national level, house prices have been very stable over the past year or so. This can largely be explained by the static nature of supply and demand conditions during this period. Looking forward, we expect little change in prices over the remainder of 2012 so long as the economic climate in the UK does not worsen substantially.”