Average UK property prices were 6.1 percent higher this July than last, currently standing at £200,913.
The figures published in the Assetz House Price Watch are collated from five leading house price indices - Halifax, Nationwide, RightMove, CLG House Price Index and Acadametrics.
These confirm that the average rate of property price growth is slowing, as was widely predicted for the second half of this year.
The figures indicate a stable housing market, with the six-month rolling average house price inflation figure now showing four percent.
Annualised average data shows that UK house prices have reached more sustainable levels, compared to the large fluctuations witnessed earlier this year.
Stuart Law, Chief Executive of Assetz, said: “UK house price growth continued to slow in July, however, prices remain strong despite the very minor slip in month on month figures - indicative of the usual summer slowdown and as a result of the much greater than normal confusion over the election period.
“Average house prices are now only 6.6 percent below their peak and have climbed by over 3 percent for the year to date.”
The latest house purchase lending data from the Council of Mortgage Lenders also reveals a continued rise in the number of new loans being advanced, pointing to continuing demand from buyers.
Law added: “With the base rate expected to remain at 0.5 percent for the foreseeable future, even more will be encouraged back into the market, especially now that the economy continues to recover more strongly than predicted in this low interest rate environment.
“The government’s austerity measures are likely to hold down house price growth in 2011 but we are yet to see these cuts reflected in the monthly data.
“Continued low interest rates and a lack of supply will boost prices this year and for this reason, contrary to most commentators, I still expect to see five percent overall growth for 2010.”
• One in five UK renters would consider doing a runner from their landlord without paying the rent, according to a new survey.
It seems that tenants are more likely to flee towards the end of their tenancy and the number of people disappearing from rented properties has risen considerably since the start of the recession.
And the findings reveal that 16 percent of renters claim they are concerned about their ability to keep up with their payments.
The survey was carried out by www.FinderMonkey.co.uk, a company that specialises in finding absconded tenants and debtors.
Worryingly almost a third of respondents believed they could avoid the repercussions of damaging property or not paying the final instalment of rent as their landlord would not have the necessary information to find them.
As a result, the company has witnessed a huge increase in private landlords utilising Finder Monkey’s bespoke tracing service to track down the runners and recover tens of thousands of pounds worth unpaid rent and damage costs this year. “It’s been a good year for us and a bad year for those attempting to dodge their responsibilities,” said Ryan Shaw, Managing Director at Finder Monkey.
“These are turbulent times but skipping town, burying your head in the sand and ignoring unpaid bills is only a temporary fix.
“Our service is being utilised by landlords and is subsequently playing a fundamental part in the recovering of what is rightfully owed.”
