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UK house prices rise slightly in July, says Rightmove

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Staff Writer |
London house
Britain   In London, house prices advanced 1.1%

UK house prices increased only marginally in July as subdued wage growth weighed on affordability, property website Rightmove reported Monday.


Asking prices edged up 0.1% in July from June. Average asking prices of property reached GBP 316,421.

On a yearly basis, house prices advanced 2.8%.

Wage growth is muted, there are signs that consumer credit is tightening, and at some point there will be the first rise in mortgage interest rates for a decade or more which will come as a shock to buyers, Rightmove Director Miles Shipside, said.

Nonetheless, in London, house prices advanced 1.1% from June.


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