By Marcus Leach
Nationwide building society's latest monthly report suggests that house prices are stabilising.
The report shows that prices across the UK rose by 0.2% in July, to £168,731, leaving them just 0.4% lower than a year ago.
However, demand is still slow and completed sales are half the level they were before the banking crisis.
"House prices remain relatively high compared to incomes and, together with more demanding deposit requirements, this is dissuading, or at least delaying, some first-time buyers from entering the market," the Nationwide's chief economist Robert Gardner said.
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