20th Sep 2023 09:53
(Alliance News) - Yearly growth in UK house prices slowed in July, according to government data on Wednesday.
The Office for National Statistics said, on an annual basis, average house prices rose 0.6% in July, cooling from a revised 1.9% in June. The reading for June was first estimated at 1.7%.
In England, the price of the average house rose 0.6% annually to GBP309,000. In Scotland, it rose 0.1% to GBP192,000, while in Wales, it fell 0.1% to GBP216,000.
On a seasonally adjusted basis, the average UK house price fell 0.5% in July from the prior month, after rising 0.7% in June from May.
Without seasonal adjustment, prices rose 0.5%, slowing from an increase of 1.1%.
The data comes from HM Land Registry records.
By Elizabeth Winter, Alliance News senior markets reporter
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