Average house prices jumped by 1.3% in June, according to Halifax, but there are early signs that the property market is cooling.

Both annual and quarterly house price growth fell back last month, to 8.4% and 1.2% respectively, bringing the average UK property price to £216,823.

Martin Ellis, Halifax housing economist, said: “There is evidence that the underlying pace of house price growth may be easing. House prices in the three months to June were 1.2% higher than in the previous quarter; down from 1.5% in May. The annual rate of growth fell from 9.2% in May to 8.4%; the lowest since July 2015.

“House prices continue to increase, albeit at a slower rate, but this precedes the EU referendum result, therefore it is far too early to determine any impact since.”

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The lender also noted that home sales stabilised in May, according to government figures. The introduction of the 3% Stamp Duty premium for second home owners in April has had a huge impact on house sales in recent months.

A rush to complete sales ahead of the tax change caused a sharp rise in March, which was followed by a substantial decline in April. UK home sales stabilised in May, rising slightly (1.5%).

Sales of 89,700 in the month, however, remained 16% below the average over the six months to February (106,750).

The volume of mortgage approvals for house purchases – a leading indicator of completed house
sales – also increased by 1.3% between April and May, according to Bank of England figures. However, approvals in the three months to May were 6% lower than in the preceding three months.