The Halifax House Price Index in the UK rose by 2.3% year-on-year in July 2024, up from 1.9% in June, marking the sharpest annual growth since January. A typical UK home now costs '291,268, up from '289,042 the previous month. Amanda Bryden, Head of Mortgages at Halifax, cited the Bank of England's rate cut and lower mortgage rates as encouraging for homebuyers, despite ongoing affordability and property shortages. Northern Ireland led UK property price growth with a 5.8% annual increase in July, the highest since February 2023. On a monthly basis, UK house prices rose by 0.8% after stalling in June.

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