House prices in the United Kingdom posted a slight rebound in July, but pointed to a cooling market as annual growth fell to the lowest level in four months.
- Average house prices stood at £261,221, up from £260,099 in June and £242,684 in July 2020.
- The latest reading indicates a 0.4% increase month-on-month, after the 0.6% decline recorded in June.
- Annual price growth fell to 7.6% in July, the lowest since March’s 6.5%.
- Halifax Managing Director Russell Galley said the slowdown was expected after the uptrend seen last summer after the recovery from the first lockdown.
- Galley believes the figures show that supplies are falling, which should help support prices in the near term.
- Higher volumes of buyer activity were recorded in the previous months, with June historically being the busiest month for completions since 2008.
- The market is expected to remain “solid” over the next few months, with the annual price growth decelerating but remaining in positive territory until the end of 2021.
And here is a golden tip
Want to profit from forex news? These forex robots earned the best historical yields to investors. Check out Best Forex Robots