Commenting,, Brigid O'Leary, RICS senior economist said: "Given that there's been a range of positive news about the housing market lately, the increase in the Halifax house price index in July is hardly surprising. And with buyer interest still relatively strong and low levels of property coming on to the market, it seems more likely than not that prices may edge up further in the next few months.
“But that doesn't change the fact that the housing market, in terms of transactions, is still in a fairly depressed state. Economic uncertainty, rising unemployment and continuing restrictions on mortgage finance could all pose significant headwinds to a longer term recovery in both activity and prices."
