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Hometrack says house prices are stabilising

The housing market is stabilising, with property prices remaining flat in July, according to research from Hometrack.

The firm&#39s latest figures show that house prices remained the same nationally for the second month in a row following average falls of 0.1 per cent across the country in April and May.

The average house price for the country as a whole is £135,200. Falls in house prices have persisted in the South-east but the rest of the country has seen stable or modest rises.

The highest rise is in Wales with a 0.2 per cent increase while the biggest fall is in the South east at0.2 per cent.

Housing economist John Wriglesworth says: “In terms of price changes, there has been nothing happening since December and the housing market remains as dull as ditchwater. Activity levels are, however, picking up slowly and better sales prices are being achieved. Demand growth is still not matching supply but the market is certainly looking more positive.

“Compared with the big price rises of 2002, price changes this year are becoming more even across the country, with recent Southern price falls reducing and Northern price rises falling. We expect this to continue over the coming months.”

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