The prices of houses in the United Kingdom observed an annual growth of 2.1% in July, the Nationwide House Price Index issued on Thursday showed. In June, that figure reached 1.5%.
Compared to the previous month, the prices rose by 0.3%. The average price stood at £266,334.
"Housing market activity has been holding relatively steady in recent months with the number of mortgages approved for house purchase at around 60,000 per month ... While this is still c. 10% below the level prevailing before the pandemic struck, it is still a respectable pace given the higher interest rate environment," Chief Economist Robert Gardner said.
