House prices rose by 1% in June, says the Halifax
Published: 5th Jul 2012 08:31:10
House prices rose by 1% in June compared with the previous month but remained lower than a year earlier, a survey said.
The Halifax, now part of the Lloyds Banking Group, said that the price of the average home was 0.5% lower than a year ago.
This valued the average property in the UK at £162,417, the lender said.
The UK housing market has been relatively stagnant in recent times owing to nervousness about the economy.
The survey, which is based on the Halifax's mortgage data, has registered as many monthly price falls as price rises this year.
The fluctuation is due in part to the low levels of activity in the housing market.
The three-month on three-month change, seen as a less volatile measure of property prices, showed a 0.3% drop in June.
The annual change in prices has mostly been reflected by figures produced by the rival Nationwide Building Society.
Last week, it said that the annual decline in prices stood at 1.5%.
However, the year-on-year comparison is calculated slightly differently by the two lenders. The Halifax compares the previous three months with the same three months a year earlier to give a smoother comparison, rather than a direct comparison of the equivalent months as calculated by the Nationwide.
On an annual basis, prices were not falling as fast as had been the case, according to Halifax's housing economist Martin Ellis.
"A year ago, in May 2011, house prices were falling at an annual rate of 4.2%. In contrast, there has been broad stability recently with the annual rate between 0% and -0.5% in each of the past three months," he said.
He predicted that prices and sales levels would see little change for the rest of the year.
However, prices have been changing a different rates in different parts of the country.
A recent Land Registry report showed that prices have risen sharply in the last year in London but dropped in six of the English regions.
At 12:56:39 in SportDidcot shooter Dan Rivers says he is "excited" to have been named in England's Commonwealth games squad for this summer's event in Glasgow.
At 12:56:00 in SportDavid Moyes has thanked Sir Alex Ferguson for giving him the chance to manage Manchester United.
At 12:55:30 in EnglandThe brother of a man killed in a helicopter crash spoke of his family's "five years of heartache" as he called for the operator to be prosecuted.
At 12:52:13 in Northern IrelandAn independent elections watchdog has warned there is only two weeks left for voters to register to be eligible to vote in the local government and European elections on 22 May.
At 12:51:49 in SportLaunceston assistant coach and former captain Tom Rawlings is leaving the club after criticising the process for appointing a new coaching team.
At 12:50:55 in SportJason Quigley has announced he is turning professional - six months after becoming the first Irishman to reach a final at the World Championships.
At 12:49:39 in HeadlinesEx-News of the World chief Andy Coulson has said he did not "cover anything up" following the arrest of the paper's royal editor Clive Goodman in 2006.
At 12:45:42 in ScotlandParents of babies whose ashes were disposed of without their knowledge have said they were "stunned" to learn a report into the scandal was handed over last week.
At 12:44:32 in WalesSupporters of gay marriage should be patient if they want the blessing of the Church in Wales, its archbishop has said.
At 12:43:19 in BusinessNearly two-thirds of people have never switched energy supplier, according to a survey for the energy regulator, Ofgem.
Harvard CitationBBC News, 2012. House prices rose by 1% in June, says the Halifax [Online] (Updated 5th Jul 2012)
Available at: http://www.ukwirednews.com/news/1438773/House-prices-rose-by-1-in-June-says-the-Halifax [Accessed 23rd Apr 2014]
News In Other Categories
A plan by the New York Police Department to use Twitter to boost its image seems to have backfired.
Supporters of gay marriage should be patient if they want the blessing of the Church in Wales, its archbishop has said.
Nearly two-thirds of people have never switched energy supplier, according to a survey for the energy regulator, Ofgem.
Eight major renewable energy projects, expected to support 8,500 jobs, have been given government approval.
The director of care at a children's hospice has been cleared of professional misconduct over the way she dealt with a dying teenager.
The Hull Truck theatre has received £400,000 in emergency grants to help it out of financial crisis.