UK House Prices Rise For Second Month In July - DCLG

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Tuesday, UK's Department of Communities and Local Government said house prices rose 1.4% month-on-month in July after adjusting for seasonal variations. It follows an increase of 0.7% in June and zero growth in May.

But, house prices fell 8.3% year-on-year after dropping 10.7% in June. Prices have been falling since July 2008.

The mix-adjusted average house price in the UK stood at GBP 196,338 in July on a not seasonally adjusted basis.

UK house prices rose 2.1% in the quarter ending July. This compares with a fall of 2.8% for the quarter ending April after seasonal adjustment.

Annual average house prices in England dropped 8.4% and fell 6.4% in Wales. Scotland saw a fall of 4.4% and Northern Ireland suffered 22.2% slump in prices.

Tuesday, UK's Department of Communities and Local Government said house prices rose 1.4% month-on-month in July after adjusting for seasonal variations. It follows an increase of 0.7% in June and zero growth in May. (Market News Provided by RTTNews)