UK House Price Increase
According to the Halifax, house prices went up in July at the fastest rate since November 2017. The average house price in the UK now stands at a record £230,280.
In July house prices went up by 1.4%, compared to June. Nationwide also reported a similar rise.
This month the Bank of England increased its interest rates to 0.75% from 0.5%. This rise is predicted to affect 3.5 million home owners currently paying a tracker mortgage.
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