UK house prices have fallen slightly in the early summer compared with the start of the year, a new survey has found.
Property values dropped by 0.6% in June compared with May, following a 0.5% fall the previous month, the Halifax said.
This meant prices in the second three months of the year were 0.1% lower than the first quarter.
More properties coming onto the market and less activity from house buyers has caused the fall, the lender said.
The average home in the UK is now valued at £166,203 according to Halifax figures.
The typical property was still 6.3% higher than a year ago, although the figures point to the house price recovery faltering this year.
A shortage of properties for sale in 2009 contributed to an imbalance between supply and demand and was a key factor driving up house prices last year.
An increase in the number of properties available for sale in recent months has helped to reduce the imbalance, relieving the upward pressure on prices.
The Bank of England’s Monetary Policy Committee yesterday announced that it is to keep the Bank interest rate at 0.5%.
