The mortgage lender Halifax has reported the the cost of an average house went up by 1.1% in July to £159,623.

Their latest survey showed that prices in the three months to July were 0.8% higher than in the previous three months, the first increase in the underlying trend since October 2007.

At the same time housebuilder Taylor Wimpey reported sales rising in the first six months of the year.

Prices of the company's properties have stopped falling, they said, and they have seen a 67% rise in their order book since the end of 2008.

Despite this the firm recorded a half year loss of £682m.