Overview

• House prices rose 0.6% month-on-month in July to £272,664, reversing June’s 0.9% decline.
• Annual price growth accelerated to 2.4% year-on-year while wages grew by 5%, according to Nationwide.
• The typical home now costs 5.75 times average income, marking the lowest price-to-income ratio since 2014.
• Five-year fixed mortgage rates averaged around 4.3% for borrowers with a 25% deposit.
• Mortgage approvals reached 64,200 in June and HM Revenue and Customs reported a 13% month-on-month jump in sales.