The average house price hit £288,455 in June, Halifax said, down 0.2% on the £288,931 recorded in May, as a shortage of properties kept prices high. Meanwhile, annual house price growth was unchanged at 1.6%.
The figures, which cover a period during the election campaign, mark the third consecutive month that prices have stayed relatively flat.
Amanda Bryden, Halifax's head of mortgages, said house prices had posted a seventh consecutive month of year-on-year growth. "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.
"For now, it's the shortage of available properties, rather than demand from buyers, that continues to underpin higher prices."
Bryden said the affordability of a mortgage remained the biggest challenge for new homebuyers, as well as those coming to the end of deals.
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