Halifax: house prices up in July

This is broadly in line with fellow mortgage lender, Nationwide’s house price index, which revealed prices rose by 1.3% last month.

Halifax said prices in the three months to July were up by 0.8% making the average property worth £159,623 (see the Free House Price Valuation guide to help value your home).

The lender attributes the rise to a lack of supply as few homeowners are putting their properties on the market.

Some commentators believe the house price crash is over and that prices will end the year higher than they began.

Ray Boulger, from mortgage broker John Charcol, expects a 5% increase in house prices during 2009.

Others are more cautious. The Land Registry, which last week reported a 0.1% rise in June (it reports its figures a month after lenders), said the 0.1% movement "does not signal a return to growth, but rather flattening prices".

Further reading/Key links

Free valuation: www.moneysavingexpert.com/valuation Latest house prices: Halifax