House prices hit record for sixth month in a row, but rate slows: Rightmove
House prices hit record for sixth month in a row, but rate slows: Rightmove
But the 0.4% rise compares to a 9.7% jump in June, which is a sign of the market moving from “boil to simmer”, says the property website’s monthly House Price Index.
However, the report says: “A continuing desire to move and low numbers of homes for sale are driving further price growth even at a time when personal finances are becoming increasingly stretched.”
The report comes after the Bank of England has raised interest rates five times in a row since December to 1.25%, and inflation hit 9.1% in May, a 40-year high driven by higher food and energy bills.
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