A house price index registered a small decline in June, contradicting other indices that show house prices rising or stable and implying that the road to price stability is likely to be a bumpy one. The Halifax house price index showed a 0.5% decline in June from May, in contrast to the 0.9% rise in another index from lender Nationwide.

However, the drop in the Halifax index comes after a 2.5% rise in May from April, larger than that of some other indices, and economists had expected prices to be erratic, particularly when the sales volumes are so low by historical levels

Financial Times