By Daniel Hunter

House price growth on an underlying basis remains broadly stable, according to the latest Halifax House Price Index.

The average UK house price in July 2012 was 0.8% higher than in December 2011, at £161,094. Nationally, house prices are at a very similar level to the summer of 2009.

"The underlying trend in house prices was flat in the three months to July compared with the previous three months,"

"House prices fell by 0.6% in July following consecutive increases in May and June as prices continue to fluctuate on a monthly basis.

"At a national level, house prices have been very stable over the past year or so. This can largely be explained by the static nature of supply and demand conditions during this period.

"Looking forward, we expect little change in prices over the remainder of 2012 so long as the economic climate in the UK does not worsen substantially."

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