HOUSE PRICES ON THE RISE

Further signs of an improvement in the UK house market have emerged after figures from both the Halifax and Nationwide showed prices rose in July.
The average price of house rose to £168,731, up 0.2 per cent from the previous month, according to Nationwide, compared with a drop of 1.1 per cent a month ago.
Data from the Halifax showed prices rose by 0.3 per cent in July, with prices on a quarter-to-quarter basis up for the first time in 14 months, following a 0.5 per cent rise in the three months to July.
With little change in either the level of house sales or the number of properties on the market since late 2010, both the Halifax and Nationwide said the steady market conditions have helped to stabilise house prices.
Nationwide reported that house prices have risen or remained unchanged for six of the seven months so far in 2011, with the highest increase being 0.6 per cent in February.