It has been claimed that house prices are unlikely to drop much further in the UK, meaning now could be the perfect time to consider moving house or investing in property.

Bestinvest has stated that figures from Nationwide and Halifax are "starting to come together".

Month-on-month, these are showing slight increases which indicate that there are now a lot of buyers on the market.

However, compared to last year there is "still a big downsize", the firm adds.

Discussing the issue, Peter O'Donovan, head of mortgages at Bestinvest, explained that "these sort of figures [indicate] that purchases are increasing, people are considering selling and moving on and the properties will start to come back on the market".

The Halifax House price Index for May revealed that the average UK house price now stands at £158,565.

This represents a month-on-month increase of 2.6 per cent.

If people do wish to take advantage of this opportunity to move house, they find that putting some of their possessions in storage can make the process much easier.

Written by Graeme Pieterson