Nationwide Building Society's latest research has indicated that the average house price in the UK has increased for the third consecutive month in July.

According to the financial services provider, the average value of a home in the country was £158,871 during the month.

This was 1.3 per cent higher than the previous month, suggesting that private landlords looking to sell part of their portfolio may have got a better deal than earlier in 2009.

Martin Gahbauer, chief economist at Nationwide, said: "For the first seven months of 2009 as a whole, prices have risen by a cumulative 1.3 per cent, suggesting there is now a reasonable chance that prices could end the year slightly higher than where they started."

He added that this would have been unheard of a few months ago.

Private landlords will also be able to hear Halifax's most recent house price figures later this week, while the next interest rate decision will be made on Thursday.

Written by Mark Garner

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