UK housing market cools in July
The latest official UK house price figures are out. The average price of a property fell by around £10,000, or 3.7%, to £255,535 in July, and the annual growth rate fell to 8% from 13.1% in June, as the stamp duty holiday was phased out.
The main findings are:
- The average UK house price is £19,000 higher than this time last year, following the record high of £265,000 in June 2021.
- Average house prices increased over the year in England to £271,000 (7%), in Wales to £188,000 (11.6%), in Scotland to £177,000 (14.6%) and in Northern Ireland to £153,000 (9.0%).
- London continues to be the region with…