UK house prices remained steady in July, rising by 0.2 pct from June, but the annual rate slipped to 2.3 pct, its lowest since April 1996, a survey by HBOS PLC unit Halifax found today. The average seasonally-adjusted house price now stands at 162,994 stg. Overall, there has been almost no change in the average UK house price since the start of 2005, but there have been further signs of a "modest improvement" in housing market activity over the past month, the survey found. The number of loans approved for house purchase in the second quarter was 10 pct higher than in the first quarter. Yesterday's move by the Bank of England to cut interest rates by a quarter of a point will reduce mortgage payments as a proportion of gross income for the average new borrower to 19 pct from 20 pct. This will bring afford ability levels back in line with the average for the past 20 years and well below the 1990 peak of 34 pct, Halifax said.