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UK house price inflation eases in July

Staff Writer |
UK house price inflation slowed to a more than four-year low in July, data from the mortgage lender Halifax and IHS Markit showed Monday.

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House prices increased 2.1% year-on-year in three months to July, following the 2.6% rise seen in three months to June. This was the weakest growth since April 2013. Prices were forecast to gain 2%.

On a quarterly basis, house prices dropped 0.2% three months to July after easing 0.1% in three months ended June.

Meanwhile, house prices increased by more-than-expected 0.4% in July from June, when they declined 0.9%. This was the biggest growth in seven months and above the expected growth of 0.3%.