It compares with 3.6% growth in Scotland and a 1.6% increase in Wales. <\/p>\n
Meanwhile, increases in northern areas of England were offset by weakness in the south, with prices in the south east down 2% and those in Greater London down 1.3%. <\/p>\n
Amanda Bryden, head of mortgages at Lloyds, said the UK housing market “remained steady” in July. <\/p>\n
She added: “Average house prices have remained relatively stable for almost two years, moving within a narrow range over that period and sitting just 0.5% higher than they were in November 2024. <\/p>\n
“That trend has persisted even as buyers and sellers have faced a more uncertain economic backdrop this year. <\/p>\n
“Affordability remains a challenge for many would-be buyers and, following recent events in the Middle East, mortgage rates have edged higher again after easing earlier in the summer.” <\/p>\n
It comes after lenders have been hiking their mortgage rates in recent weeks, despite the base rate being held at 3.75%. <\/p>\n
The Bank of England kept rates unchanged again last week, but cautioned inflation was set to rise by the end of the year due to the Iran war and signalled it stood ready to hike if the conflict and its effects on prices was prolonged. <\/p>\n
Ms Bryden added: “Looking ahead, we expect market activity and house prices to remain relatively stable over the remainder of the year. <\/p>\n
“Developments will be shaped by both how mortgage rates respond to the outlook for inflation and wider household confidence.” <\/p>\n","protected":false},"excerpt":{"rendered":"The average UK house price flatlined last month as mortgage rates edged higher in the face of global…\n","protected":false},"author":2,"featured_media":99117,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[4515,41899,4510,725,5,6],"class_list":["post-99116","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uk","tag-amanda-bryden","tag-global-economic-uncertainty","tag-house-price","tag-mortgage-rates","tag-uk","tag-united-kingdom"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117053404187661648","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/99116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=99116"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/99116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/99117"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=99116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=99116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=99116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}