House prices have fallen for a fourth month in a row.
However, commentators said the figures from Halifax yesterday showed a resilient market despite the pressure of higher borrowing costs.
The average house price dipped by 0.3% month-on-month in July to £285,044, according to the mortgage lender.
Over the year, prices were down by 2.4%, a slightly smaller drop than the 2.6% decline recorded in June, which was the largest such fall since June 2011.
Kim Kinnaird, a director at Halifax Mortgages, said: “In reality, prices are little-changed over the last six months, with the typical property now costing £285,044, compared with £285,660 in February.”
