England noticed an increase of 0.6 percent in the asking prices for houses in July after witnessing a drop of 0.4 percent in June.

The fresh report from the property website Rightmove reveals that average asking property price stood at 227,864 pounds in July.

Five out of the seven months this year have seen the property prices to rise, signifying that the housing market would remain in a steady state in the second half of 2009.

Mortgage approvals have been rising steadily over the past few months. According to Bank of England, mortgage approvals climbed to 43,414 in May, as compared with
27,000 in November.

As per Ernst & Young LLC's Item Club, the UK's economy will grow 0.5 percent in 2010, as compared to 0.1 percent earlier forecast.

Even though, signs of recovery have been shown by the U. K. housing market, yet soaring unemployment and restricted mortgage accessibility have kept sales volumes at a low level.