According to Halifax mortgage research property prices will stagnate.

Recent Halifax mortgage research has led the lender to predict that UK property prices are likely to remain static until at least the end of this year.

Data released by the Halifax reveals that the average house price in July 2012 was a little over £161,000, which is a 0.6 % drop on figures recorded for the month before.

The latest Halifax mortgage House Price Index reveals that property prices are fluctuating and are showing no clear trend. Prices had increased in May and June but then fell back again in July, the research reveals that prices are currently sitting at a level that matches those for summer 2009.

The end of the stamp duty concession has been partially attributed to fluctuating figures.

Several other UK high street lenders are now also advising that property prices are likely to stagnate which backs up the Halifax mortgage research.

A Halifax mortgage spokesperson commented advising that if the UK's economic climate manages to remain stable then so will property prices.

With property prices likely to remain at their current level for the time being and with mortgage rates being reduced buy lenders, now is a good time for would-be buyers to search the market for a deal to buy their first home.

First time buyers should not delay in snapping up a competitive offer. If you are looking for a low deposit mortgage there are now several lenders to chose from.

Lenders such as the Halifax and Coventry are cutting mortgage rates and releasing smaller deposit mortgage products.

The Coventry has already announced the release of several competitively priced fixed rates for 90% and 95% loan to value. A 5 year fixed rate is available for 90% loan to value at 5.39% with a £499 fee.

Regardless of your deposit Deal Direct can source you a competitive offer.

Act now and call a Deal Direct adviser.