Upward trend in house prices
HOUSE prices rose by 1.2 per cent in June, according to the Halifax.
Martin Ellis, housing economist, says: “House prices in the three months to June were 0.5 per cent lower than in the previous quarter.
“This was the smallest quarterly fall in prices since the second quarter of 2010 but there was a 1.2 per cent rise in prices in June.
“Low interest rates, an increase in the number of people in employment and some tightening in market conditions earlier in the year are likely to have been the main factors behind the recent improvement in price trends. A slowly improving economy and sustained low interest rates should help support broad stability in the market.”