{"id":3241,"date":"2018-08-02T15:16:36","date_gmt":"2018-08-02T15:16:36","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=3241"},"modified":"2018-08-02T15:16:36","modified_gmt":"2018-08-02T15:16:36","slug":"uk-house-prices-pick-up-in-july","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/uk-house-prices-pick-up-in-july\/","title":{"rendered":"UK house prices pick-up in July"},"content":{"rendered":"

The year-on-year rise in UK house prices accelerated in July, a major lender has said, with the cost of the average home at \u00a3217,010.<\/strong><\/p>\n

The Nationwide Building Society said that the annual growth in house prices rose from 2% in June to 2.5% in July.<\/p>\n

However the lender said little had changed in terms of the fundamental balance between buyers and sellers.<\/p>\n

The future performance of the economy, jobs, and the level of interest rates would be key to the market, it said.<\/p>\n

House prices rose by 0.6% between June and July, the lender said.<\/p>\n

The Nationwide, which bases the findings on its own mortgage data, said that it expected house prices to rise by 1% over the course of 2018.<\/p>\n

“For the past decade we have ridden a rollercoaster of rising and falling prices, but right now it seems to tick up a little one month and tick down a little the next,” said Sam Mitchell, chief executive of online estate agents Housesimple.com.<\/p>\n

“On the ground there has been a noticeable increase in properties being listed, and there are still enough sales progressing that the market hasn’t ground to a halt, but they are progressing at a steady rate.<\/p>\n

“We should bear in mind that we are in the traditionally quiet summer period for the property market, and the weather has been so un-British like that most people have been outside making the most of it, rather than viewing properties.”<\/p>\n

Rate rise impact?<\/strong><\/h2>\n

There has been considerable speculation about the possibility of the Bank of England announcing a rise in interest rates on Thursday.<\/p>\n

In general, a move in the Bank rate from 0.5% to 0.75% would only have a “modest impact” on households, according to Nationwide’s chief economist Robert Gardner, with those on a variable rate mortgage seeing their monthly bill rise by about \u00a316.<\/p>\n

However, there are some households squeezed by debt for whom a rate rise would have an impact, he said.<\/p>\n

“For those, some of whom will be on variable rates, any rate rise will be a struggle, even though the impact on the wider economy and most households is likely to be modest,” he said.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The year-on-year rise in UK house prices accelerated in July, a major lender has said, with the cost of the average home at \u00a3217,010. The Nationwide Building Society said that the annual growth in house prices rose from 2% in June to 2.5% in July. However the lender said little had changed in terms of […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3241","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-Qh","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=3241"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3241\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=3241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=3241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=3241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}