House prices 'show rise'

HOUSE prices rose by an average of 0.7 per cent last month, according to the Halifax Building Society. However, prices still fell by an average of 5.6 per cent over the year to June, writes Maria Scott.

Prices in the south of England are now about eight to 10 per cent down on a year ago.

The society said the June increase, which on a seasonally adjusted basis was 0.3 per cent, could be a sign that prices are now stabilising.

But further recovery depends on the economy and employment prospects. 'With some increase in house sales over the next few months, house prices could move on to a gently rising trend during 1993.'

June's rise followed seasonally- adjusted falls of 0.9 per cent and 0.5 per cent in April and May.