House prices fell in July following two months of increases but are expected to remain largely flat for the rest of the year, the Halifax said in its latest housing market survey.
The average house price was £161,094 last month, which was 0.6pc lower than in June and the previous July, according to the Halifax House Price Index.
House prices have been fluctuating every month and, after rises in May and June, are still 0.8pc higher than in December and roughly the same as in the summer of 2009.
Halifax expects prices to remain flat over the rest of 2012 unless the economy deteriorates, with levels of supply and demand set to remain stable.
The recent fluctuation in pricing may have been affected by a rush of first-time buyers looking to beat a stamp duty holiday at the end of March, after HM Revenue and Customs figures showed an 11pc fall in sales between the first and second quarters of 2012.
Halifax housing economist Martin Ellis said: "At a national level, house prices have been very stable over the past year or so.
"Looking forward, we expect little change in prices over the remainder of 2012, so long as the economic climate in the UK does not worsen substantially."
Last week, the Nationwides said house prices fell at their fastest annual pace in nearly three years in July, sliding 0.7pc.
The decline was much bigger than forecast by economists and prices are now 2.6pc lower than a year ago - their biggest annual fall since August 2009, Nationwide said in its house price survey.
Britain's economy entered recession at the end of last year, and shrank a bigger-than-expected 0.7pc in the second quarter of 2012, as bad weather and an extra public holiday added to the effects of public spending cuts and the debt crisis in the euro zone.
British house prices are now 13pc below their 2007 peak, compared to a decline of more than 15pc in the US and nearly 25pc in Spain, Nationwide said.
telegraph.co.uk
The average house price was £161,094 last month, which was 0.6pc lower than in June and the previous July, according to the Halifax House Price Index.
House prices have been fluctuating every month and, after rises in May and June, are still 0.8pc higher than in December and roughly the same as in the summer of 2009.
Halifax expects prices to remain flat over the rest of 2012 unless the economy deteriorates, with levels of supply and demand set to remain stable.
The recent fluctuation in pricing may have been affected by a rush of first-time buyers looking to beat a stamp duty holiday at the end of March, after HM Revenue and Customs figures showed an 11pc fall in sales between the first and second quarters of 2012.
Halifax housing economist Martin Ellis said: "At a national level, house prices have been very stable over the past year or so.
"Looking forward, we expect little change in prices over the remainder of 2012, so long as the economic climate in the UK does not worsen substantially."
Last week, the Nationwides said house prices fell at their fastest annual pace in nearly three years in July, sliding 0.7pc.
The decline was much bigger than forecast by economists and prices are now 2.6pc lower than a year ago - their biggest annual fall since August 2009, Nationwide said in its house price survey.
Britain's economy entered recession at the end of last year, and shrank a bigger-than-expected 0.7pc in the second quarter of 2012, as bad weather and an extra public holiday added to the effects of public spending cuts and the debt crisis in the euro zone.
British house prices are now 13pc below their 2007 peak, compared to a decline of more than 15pc in the US and nearly 25pc in Spain, Nationwide said.
telegraph.co.uk
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