Halifax House Price Index July 2024

Key Takeaways

House prices rose by 0.8% MoM in July after three months of minimal change.
The annual growth rate of 2.3% is the highest since the start of this year.
The average UK house price went up to £291,268 from £289,042 in June.
Northern Ireland maintains the highest annual house price growth in the UK, with an increase of +5.8%.
London remains the most expensive area, with average house prices at £536,052, a +1.2% increase compared to last year.
The recent Bank of England base rate cut, alongside reduced mortgage rates, offers hope for buyers and those looking to remortgage despite ongoing affordability and property availability challenges.