House prices edge up again, says Halifax

House prices are continuing to edge up, according to the UK’s largest mortgage lender, Halifax.

Measured on an annual basis, house prices in June rose 8.8%, from 8.7% in May.

Nevertheless, the survey provides further evidence that the rate of house price growth is starting to moderate.

On a monthly basis, prices fell by 0.6% between May and June. Which was the fourth monthly fall since last December.

On the more reliable quarterly measure, prices rose by 2.3% in the three months to June.

The average house price across the UK is now £183,462, said Halifax.

Stephen Noakes, mortgage director at Halifax said that “Housing demand continues to be supported by an economic recovery that is gathering pace, with employment levels growing and rising consumer confidence, although real earnings growth remains sluggish,”