Halifax House Price Index for July

UK house prices rise in July

 

  • House prices increased by +0.8% in July, following three relatively flat months
  • Annual growth rate of +2.3% is the highest since January 2024
  • Typical property now costs £291,268 (compared to £289,042 in June)
  • Northern Ireland continues to record the strongest annual house price growth in
    the UK

Amanda Bryden, Head of Mortgages, Halifax, said:
“In July, UK house prices increased by +0.8% on a monthly basis, following three relatively flat
months. The average house price in the UK is £291,268, up over £2,200 compared to the previous
month.

“Annual growth rose to +2.3%, the highest rate since the start of this year.

“Last week’s Bank of England’s Base Rate cut, which follows recent reductions in mortgage rates, is
encouraging for those looking to remortgage, purchase a first home or move along the housing
ladder. However, affordability constraints and the lack of available properties continue to pose
challenges for prospective homeowners.

“Against the backdrop of lower mortgage rates and potential further Base Rate reductions, we
anticipate house prices to continue a modest upward trend throughout the remainder of this year.”

Nations and regions house prices

Northern Ireland continues to record the strongest property price growth of any nation or region in the
UK, rising by +5.8% on an annual basis in July, up from +4.1% the previous month and the highest
increase since February 2023. The average price of a property in Northern Ireland is now £195,681.
House prices in the North West also recorded strong growth, up +4.1%, compared to the previous
year, properties here now average £232,489. In Wales, house prices grew +3.4% to £221,102 – the
highest price seen since October 2022.

Scotland saw a rise in house prices, a typical property now costs £205,264, +2.1% more than the
year before.

The only region or nation to record a fall across the UK was Eastern England. Properties here now
average £330,282, down -0.4% on an annual basis.
London continues to have the most expensive property prices in the UK, now averaging £536,052, up
(+1.2%) compared to last year.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Home and Living

Laundry Room Essentials Every Home Needs

A well-equipped laundry room is key to maintaining a smooth and efficient household. Whether you have a spacious utility area or a compact corner dedicated to washing and drying, having the right essentials can make all the difference. From practical appliances to useful accessories, here are the must-have items every home needs in its laundry…
Read More
Estate Agent Talk

First-time buyers now face £33k in upfront costs

First-time buyers now face an average upfront cost of just under £33,000 to purchase a home—a rise of more than £1,000 (3%) compared to 2024. But why is buying a home so expensive? How can first-time buyers reduce these initial costs? To help, Compare My Move has released a detailed report on the cost of…
Read More
Estate Agent Talk

Essential Car Tips for Estate Agents Spending Long Days on the Road

As an estate agent in the UK, you are likely to spend extended periods of time on the road, travelling between properties and meeting clients in various locations. Considering the magnitude of your driving responsibilities, following a few vital car tips can considerably make your job easier and safer, whilst also saving you money in…
Read More
Kerb appeal
Breaking NewsEstate Agent Talk

Response to Latest Halifax House Price Index

Halifax house price data shows property prices have risen by 0.7% month on month, here are some thoughts from the industry.   Nathan Emerson, CEO of Propertymark: “As we embed ourselves into 2025, confidence is being echoed within the housing market, as house prices and mortgage lending remain buoyant. “With the Bank of England announcing…
Read More
Breaking News

Halifax House Price Index – January 2025

House prices in January 2025 were 3.0% higher than the same month a year earlier. The housing market kicks off 2025 with price rise to hit new record high • House prices increased by +0.7% in January following dip of -0.2% in December • Average property price of £299,138 is a new record high •…
Read More
Breaking News

Landlords Respond to Government’s Energy Efficiency Plans

Responding to the publication of the Government’s consultation on the energy efficiency of privately rented housing, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “We all want to see rented homes as energy efficient as possible, but that will require a realistic plan to achieve this. “The chronic shortage of tradespeople to…
Read More