House prices fell in July - Mortgages - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

House prices fell in July

House prices fell in July

Category: Mortgages

Updated: 06/08/2012
First Published: 06/08/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

UK house prices fell by 0.6% during July, despite consecutive increases during June and May.

The fall reflects a volatile and fluctuating housing market, with the average home costing £161,094, compared to last month's £162,417.

The latest Halifax House Price Index revealed that whilst the average price fell, house sales rose during the first half of this year by 10% compared to the same period in 2011.

A total of 466,000 sales completed successfully, largely as a result of the rush from first-time buyers to take advantage of the stamp duty holiday before it ended in late March.

A fall in average house prices will be welcomed by house-hunters looking for a bargain, in what is widely seen as a buyer's market.

However, the news will be further misery for many sellers who are desperately trying to fetch a good price on their home, either to fund their next purchase or, more worryingly, avoid falling into negative equity.

Find the best mortgage rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.