House prices in June were 0.1% lower than in May, according to the latest Halifax House Price Index.

Figures showed that in the latest quarter – from April to June – house prices were 0.9% lower than in the preceding three months, between January and March.

Halifax’s data also revealed that house prices in June were 2.5% higher than in the same month a year earlier, with the average price sitting at £237,616.

Halifax managing director, Russell Galley, said: “Average house prices fell by 0.1% in June as the UK property market continued to emerge from lockdown. Though only a small decrease, it is notable as the first time since 2010 – when the housing market was struggling to gain traction following the shock of the global financial crisis – that prices have fallen for four months in a row.

Galley also revealed that new mortgage enquiries were up by 100% in the month compared to May, but noted that June is “typically” the busiest month for mortgage activity in the UK.

“With prospective buyers also revisiting purchases previously put on hold, transaction volumes rose sharply compared to previous months,” he continued. “However, whilst encouraging, it remains too early to say if this level of activity will be sustained.

“The near-term outlook points to a continuation of the recent modest downward trend in prices through the third quarter of the year, with sentiment indicators, based on surveys of both agents and households, currently at or around multi-year lows.

“Of course, come the autumn, the macroeconomic landscape in the UK should be clearer and the scale of the impact of the pandemic on the labour market more apparent.”

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