7/28, 8:02 AM (Source: TeleTrader)
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Annual UK house price growth at 10.5% in July

House prices in the United Kingdom rose by 10.5% year-on-year in July, according to the Nationwide House Price Index report released on Wednesday. On a monthly basis, the index declined 0.5%.

The average house price in the country in July stood at £244,229, down from £245,432 registered in the prior month.

"The modest fallback in July was unsurprising given the significant gains recorded in recent months. Indeed, house prices increased by an average of 1.6% a month over the April to June period - more than six times the average monthly gain recorded in the five years before the pandemic," Nationwide's Chief Economist Robert Gardner noted in the report.

Breaking the News / MS