The first month-on-month fall of average house prices in the UK has been recorded since June 2021. The dip in July's figure comes after it hit a record high in June 2022, according to an index.
After a year of exceptionally strong growth, house prices fell by 0.1% month-on-month in July, Halifax said. This represented a £365 month-on-month fall in cash terms, from June’s record average house price high of £293,586.
Across the UK, the annual rate of price growth slowed to 11.8%, down from 12.5% in June. A typical UK property now costs £293,221, reports PA.
