House prices were unchanged in July for the third month running, housing market analyst Hometrack said today, suggesting the slump in the property sector may finally have come to an end.

Hometrack’s monthly survey has reported 0 per cent changes to house prices in May, June and July, but the analyst said it had seen some positive signs of an uptick over the past four weeks.

The number of new buyers registering with estate agents rose by 2.8% last month, Hometrack said, while the average time on the market for a property before selling fell to nine weeks, from 9.4 weeks in June. Just 3% of postcodes nationwide saw a decline in average prices, it added, while the typical buyer is now achieving a sale price of 91.5% of their asking price.

The Independent