- The monthly house price growth was +1.4% in July, being the fourth monthly increase since December. However there have also been four monthly falls – which just demonstrates the volatile nature on the monthly change
- The more stable quarterly figures report a +3.6% increase in the months May-July 2014 compared to the preceding three months.
- The annual uk house price increase was 10.2% for the three months to July against the same period in 2013.
- The average house price therefore stands at £186,322
Commenting, Stephen Noakes, Mortgages Director, said:
“House prices in the three months to July were 3.6% higher than in the three months to April. Annually prices were 10.2% higher in the three months to July than in the same three months last year.
“While supply remains low, housing demand continues to be supported by a continuing economic recovery, growth in employment, improving consumer confidence and low mortgage rates. However, earnings growth is still lagging behind consumer price inflation.”