House prices in the UK reached a record high in July

Housing prices in the UK increased by 1.4% in July from the previous month, when their growth was 0.9%, according to Halifax. Economists had expected the index to grow by 0.2%. The rise in housing prices in the three months to July accelerated to 3.3% in annual terms from 1.8% in the second quarter. An acceleration to an average of 2.7% was expected. The average price of housing in the country rose in July to a record level of 230 thousand 280 pounds. Halifax Managing Director, Russell Culley, noted that he did not expect that the recent increase in the base rate of the Bank of England would significantly affect the availability of the mortgage or the volume of transactions.

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