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2025-08-01 14:28:13
UK House Prices Rise 2.4% Year-Over-Year in July, Surpassing Expectations: ⑴ The Nationwide House Price Index rose 2.4% year-over-year in July (2.1% expected) and 0.6% month-over-month (0.3% expected), reversing a 0.9% drop in June. Mortgage approvals reached 64,200 in June, returning to pre-pandemic levels. ⑵ The current price-to-income ratio has fallen to 5.75 (from a peak of 6.9 in 2022), and the five-year fixed mortgage rate has fallen to 4.3%. A solid job market and real wage growth are supporting home buying demand, and a central bank interest rate cut could further boost the housing market.
