The annual rate of house growth also remained steady at a rise of 1.6%, unchanged from last month.

Northern Ireland saw the strongest annual house price growth at a rise of 4% on an annual basis in June, while eastern England was the only region or nation to register a house price decline, with a fall of 0.9% in June on an annual basis.

The average house price in the UK is now £288,455, compared with £288,931 in May.

Amanda Bryden, head of mortgages at Halifax, commented: “This continued stability in house prices – rising by just +0.4% so far this year – reflects a market that remains subdued, though overall activity has been recovering.

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“For now, it’s the shortage of available properties, rather than demand from buyers, that continues to underpin higher prices.”

Industry professionals also gave their take on the latest Halifax HPI:

Jeremy Leaf, estate agent and a former RICS residential chairman:

“The election definitely added to nervousness in the property market but slower-than-expected falls in mortgage rates weighed more heavily. 

“We are hearing in our offices and on the ground that most buyers and sellers put moves on hold so we expect the resilient recovering of activity to remain. 

"Looking forward, the rise in listings means prices will stay stable and the arrival of a new government will add certainty."

Tomer Aboody, director at MT Finance:

 "A stable but rising market with prices continuing to edge up year-on-year demonstrates that there is activity, and buyers keen to move but many more transactions are needed, which can only come from encouragement via some sort of reform.

"Whether this comes in the form of a change in stamp duty or in owning a BTL, to potentially and hopefully an expected interest rate reduction, something needs to happen to kickstart the market and generate significant and meaningful activity."