House price growth accelerates ahead of potential interest rate cut

• UK house price growth has accelerated in the past month as buyer confidence picked up and mortgage rates fell ahead of a potential interest rate cut by the Bank of England.
• UK house prices rose by 0.3 per cent month on month in July, Nationwide reported in their monthly house price index.
• The annual growth rate rose to 2.1 per cent from 1.5 per cent in June, the fastest pace of growth since December 2022.
• However, prices are still around 2.8 per cent below the all-time highs recorded in the summer of 2022.

Source: CityAM

---