Falls in house prices eased in June, offering fresh evidence that confidence is returning to the market, according to Halifax.
There was a 0.5 per cent decline in house prices in June, Halifax said. In the three months to the end of June, house prices declined by 1.9 per cent, the smallest quarterly fall since the first three months of 2008.
Martin Ellis, Halifax's housing economist, said: "These figures provide evidence that the underlying pace of house price decline is easing."
The June decline brought the annual fall in house prices to 15 per cent, taking down the value of the average home to £157,713.
Falling house prices ease in new recovery hope - Times Online