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The Guardian - UK
The Guardian - UK
Business
Jack Simpson

UK house prices rise at fastest rate in 18 months, Nationwide reports

Nationwide United Kingdom Robert Gardner
A dark green sold sign with yellow lettering and house symbol outside an old brick house with decorative brick detailing around its windows and white wooden windowframes; there is greenery and a tall bush in the front garden behind the sign; the house appears to be quite small and in a terrace but looks smart and desirable
Housing market activity has remained steady in recent months but is still at ‘a respectable pace’, said Nationwide. Photograph: Maureen McLean/Rex/Shutterstock

UK house prices have grown at the fastest rate in 18 months but high mortgage rates mean many prospective buyers still face affordability challenges, Nationwide has said.

The building society said the average house price in the UK was £266,334 across July, up 0.3% on the previous month.

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