House prices edge up in third quarter

House prices rose fractionally for the first time in 18 months during the third quarter of this year, according to the Halifax house price index.

Prices rose by 0.1% during the last three months, but fell by 0.5% on the more volatile monthly basis during September. The average price of a house in September was £161,132.

House prices are still well down on last year, at 2.3% lower than September 2010.

Martin Ellis, housing economist for the Halifax, said he expected “little change” to house prices for the remainder of the year.