US jobs data has smashes through forecasts for July, in a sign of strength in the world’s biggest economy as the Federal Reserve’s battle against inflation continues. Wall Street stock slipped and the dollar rose.
House prices fell by 0.1% in July, the first time that mortgage lender Halifax has reported a decrease in over a year.
The annual rate of growth eased to 11.8% from 12.5% the previous month, meaning a typical UK property now costs £293,221.
Housing market indicators have recently shown a softening of activity, with higher borrowing costs adding to the squeeze on budgets. The Bank of England yesterday hiked interest rates by another 0.5% to 1.75% and warned of recession during 2023.
