The UK housing market continued to demonstrate resilience in July, with property prices rising 0.4% month-on-month, according to Halifax. This increase takes the average house price to £298,237, marking a 2.4% annual rise – slightly slower than the 2.7% growth recorded in June.
Amanda Bryden, Head of Mortgages at Halifax, attributes the steady performance to a combination of factors:
- Falling mortgage rates making borrowing more affordable
- Rising wages supporting household budgets
- More flexible affordability assessments from lenders
These changes are gradually improving affordability, helping maintain healthy activity levels across the market.
Nationwide’s Data in Context
Nationwide’s figures also showed a 0.6% increase in July, bringing their average house price to £272,664. While both lenders report slightly different averages, the overall picture is one of modest but sustained growth.
This contrasts with the more turbulent conditions seen in recent years, when rapid interest rate rises and economic uncertainty placed pressure on both buyers and sellers. Today’s market is showing signs of stability, with many experts forecasting steady, modest gains through the rest of 2025.
What This Means for Buyers and Sellers
For sellers, the combination of steady demand and a more competitive lending environment is encouraging. For buyers, improved affordability – coupled with a wider choice of properties – creates an opportunity to move forward with confidence.
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