UK house prices increased 0.8% in July, driven by falling mortgage rates.
UK house prices rose by 0.8% in July, marking the first increase after a three-month lull and the highest annual growth since January. The average UK house price reached £291,268, with Northern Ireland experiencing the most significant price increase. The rise is attributed to falling mortgage rates, which have reinvigorated the property market. Halifax predicts a modest upward trend in house prices throughout the remainder of the year due to lower mortgage rates and potential further base rate reductions.
August 07, 2024
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