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House prices 'rose 0.6% in July'
UK house prices rose by 0.6 per cent in July when compared to the previous month, new figures from Halifax have revealed.
The organisation's House Price Index has shown that the average value of a property in the UK now stands at £167,425, which represents a 4.9 per cent rise from the figure recorded 12 months ago.
According to Halifax, the latter statistic was lower than the annual change of 6.3 per cent recorded in June, as well as the recent high of 6.9 per cent seen in May.
Martin Ellis, housing economist at Halifax, said that generally there has been "little change" in prices during 2010.
"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," he added.
Earlier this year, research by Halifax suggested that the cost of housing in the UK has fallen by six per cent over the past two years.