The latest Halifax House Price Index has revealed that the cost of property fell by 0.5 per cent last month.
Housing economist Martin Ellis believes this could illustrate that the rate of decline in the sector is easing, as it marks the lowest decrease since the first quarter of 2008.
He continued: "There are further indications of a modest improvement in sales activity.
"Industry-wide figures show that the number of mortgages approved to finance house purchase increased for the fourth successive month in May."
The cost of running a new home in the UK has decreased by nearly one-fifth over the last 12 months, the Halifax revealed, falling from £8,766 to £7,298 between April 2008 and 2009.
Published on June 29th, the Building Britain's Future plan showed that the government would invest £1.5 billion over the next two years to produce 20,000 new energy-efficient and
affordable homes.
See Also: Press Releases (372)
Date Published: 08 July 2009
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