House prices up 0.4% in July

UK house prices rose by 0.4% in July - the fastest monthly increase this year - according to Halifax. The average property now costs £298,237, up from £297,157 in June. On a yearly basis, prices were up 2.4%, a slowdown on the 2.7% annual growth recorded in June. Halifax credited cheaper borrowing and rising wages for supporting the housing market. Although many homeowners will soon exit pandemic-era fixed-rate deals and face higher repayments, the overall impact on house prices is expected to be limited. Halifax head of mortgages Amanda Bryden said she expected house prices to follow a steady path of modest gains through the rest of the year. Meanwhile, HMRC data shows residential property sales rose by 13.4% in June to 93,530, while Bank of England figures revealed a 1.4% increase in mortgage approvals, reaching 64,167 for the month. 

City AM (08/08/2025)   The Guardian (08/08/2025)   The Independent (08/08/2025)   The Times (08/08/2025)