House prices dip for third month



Property prices fell for the third month in a row during June as the housing market recovery showed further signs of faltering.


The average cost of a home dropped by 0.6 per cent during the month, following a 0.5 per cent slide in May and a 0.1 per cent decline in April, according to Halifax.

The group said an increase in the number of homes being put up for sale in recent months had eased the mismatch between supply and demand, and reduced the upward pressure on prices. House prices during the three months to the end of June were 0.1 per cent lower compared with the first quarter of the year.


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