UK house prices up just 0.1% in July as buyers remain cautious on interest rates

Annual price growth slowed to 1.8% this month, down from 2.2% in June. Photograph: Anthony Devlin/PA

Economic uncertainty dampened UK house price growth in July as prospective buyers remained cautious about interest rates during the Iran war in what should be the peak housebuying season.

House prices rose by only 0.1% in July from a month earlier, according to the lender Nationwide, while annual price growth slowed to 1.8% this month, down from 2.2% in June.