Values edge up but housing market still in the doldrums - Business News, Business - The Independent
House prices in the UK edged up in July supported by the record low interest rates, but remain under pressure as consumers face the economic headwinds of market turmoil, low wage growth and Government spending cuts.
The house price index published by Halifax reported a 0.3 per cent increase over the previous month, but was still 2.6 per cent lower than a year earlier as analysts said that the market remained "historically weakened".
The average price hit £163,981 in July, which still remains some way off the recent peak of £168,593 in April last year. It slid to a nadir of £160,393 a year later.
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