Economic Buzz: UK house prices stay tepid

Lloyds House Price index data showed that the UK house prices fell slightly in August ( -0.2%), following a -0.1% decrease in July. Average property price now ?298,468 compared with ?299,153 in July. On an annual basis prices have fallen by -0.4%, the first year -on -year decrease since November 2023. Data showed that Northern Ireland continues to record the UK?s strongest annual growth at 6.9 %. However, house prices remain around 25% higher than they were at the end of 2019, despite the substantial increase to interest rates seen over recent years.

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