Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
UK House Price Growth Slows to 1.8% in July
UK house prices increased by 0.1% during July, with annual growth slowing from 2.2% in June to 1.8%, according to data from Nationwide reported by Property118. The average price of a home in the UK is now £277,542, compared with £277,484 a month earlier.
Nationwide’s chief economist, Robert Gardner, stated that prices remained broadly flat in month-on-month terms after taking account of seasonal factors.
For letting agents and inventory clerks, the latest figures indicate a continued moderation in the housing market, with only a slight increase in average property values over the past month. This trend may influence rental market dynamics and property management decisions in the coming months.
Source: Property118