UK house prices have continued to stabilise, according to the latest report from the Halifax.

Prices rose 0.6% in July, the Halifax said, reversing a fall seen in June, but values have changed little since the start of the year.

The annual house price inflation rate fell from 6.3% to 4.9%, with the average property now costing £167,425.
 

"The increase in the number of properties for sale over the past few months, boosted by the recent abolition of home information packs, has relieved much of the pressure that was driving up prices in 2009," said Martin Ellis of the Halifax.

Source: BBC