From This is Money:
The Halifax house price index, released today, showed continuing mixed fortunes for property prices, as prices fell following a 2.6% rise in May.
This is a pattern consistent with the prolonged period of stagnation seen in the early 1990s slump.
The average home is now worth £157,713 according to the Halifax, with prices falling at 15% annually in June ? a slower rate than the 16.3% seen in May and the peak decline of 17.7% seen in April and February.
Three-month figures, considered a more reliable measure than volatile monthly data, showed prices down 1.9%: the smallest three-month drop since the first quarter of 2008.
Martin Ellis, housing economist at Halifax, said: ‘There are further indications of a modest improvement in sales activity, albeit at a very low level.
‘Improvements in affordability and low interest rates have stimulated housing demand. This, together with a low level of properties available for sale, has helped to stabilise activity and reduce the under…