UK July Nationwide house prices +0.6% vs +0.3% m/m expected | investingLive

• Prior -0.8%; revised to -0.9%

The average price of dwellings in the UK rose back in July to £272,664 with Nationwide noting that activity looks to be holding up after the volatility from the end of the stamp duty holiday.

“After deteriorating markedly in the wake of the pandemic, housing affordability has been steadily improving, thanks to a period of strong income growth alongside more subdued house price growth and a modest fallback in mortgage rates. While the price of a typical UK home is around 5.75 times average income, this ratio is well below the all-time high of 6.9 recorded in 2022 and is currently the lowest this ratio has been for over a decade. This is helping to ease deposit constraints for potential buyers, as has an improvement in the availability of higher loan to value mortgages.”