Halifax says house price growth highest since start of year

Halifax has recorded UK house prices rising by 0.8% in July while annually growth rose to +2.3%, the highest rate since the start of this year.

The average house price in the UK is £291,268, up over £2,200 compared to the previous month. Meanwhile, the ONS has recorded the average house price for England was £305,000 in June 2024, up 2.4% (£7,000) from a year earlier. This annual rise was lower than in the 12 months to May 2024 (2.5%). The July 2024 RICS Residential Survey results signal a largely stable trend in property market activity. Supported by the modest easing in mortgage interest rates in recent weeks, there has been a meaningful pickup in sales volumes moving forward.

New buyer enquiries and agreed sales both held steady in July anticipating a pickup in sales volumes moving forward.

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