The UK housing market saw a modest uptick in July, according to the latest Halifax House Price Index released today. Average house prices rose by 0.4% month-on-month, bringing the typical UK home value to £298,237—up from £297,157 in June.

This marks a slight acceleration compared to June’s 0.1% increase, though it is slower than the 0.7% monthly rise recorded in July 2024.

On an annual basis, house prices are now 2.4% higher than a year ago, easing from the 2.7% year-on-year growth rate reported in June. While the market continues to show resilience, the figures suggest a cooling pace of growth amid ongoing economic uncertainty and affordability pressures.

Regional Highlights

• Northern Ireland once again leads the UK with the strongest annual growth, where average prices rose 9.3% year-on-year to £214,832.

• Scotland posted 4.7% annual growth, with average prices reaching £215,238.

• In Wales, property prices are up 2.7% annually at £227,928.

• The South West of England recorded the weakest annual growth at just 0.2%, with an average house price of £302,306.

The latest data underscores a market that remains relatively stable but regionally varied. As affordability challenges persist and speculation around interest rate cuts continues, analysts will be watching closely to see whether price growth can maintain momentum through the second half of the year.