Slight growth in house prices in July: Rightmove

Would-be home buyers are encountering more

Would-be home buyers are encountering more

The Rightmove report suggests annual average house price increases of 2.8% so far this year, which is absolutely in line with market forecasts and expectations for 2017, so again should not raise any alarm bells whatsoever.

Asking prices of newly-listed homes for sale flat-lined in the month to mid-July, the property website said, but home buyers are cautious on political uncertainty and wage growth falling behind inflation.

Miles Shipside, Rightmove director and housing market analyst, said: "A year on from the shock referendum result and subsequent dent in activity levels, the fundamentals remain strong".

The average house price in England and Wales is £316,421 in July, up from £316,109 in June.

'Buyers, many of whom are sellers too, will struggle to afford to pay much more'.

Massive pipe falls on van, only minor injuries in incident
It came down right in the middle of his van. "But they came out and said, 'Nope, he's only got scratches.' It's insane ". The Florida Highway Patrol says a semi carrying scrap metal overturned on an overpass ramp on Interstate 4.

He warned that market conditions could become hard for some homeowners, including property investors, if there is an eventual hike in mortgage costs, with the Bank of England constantly considering when to raise interest rates.

While any rate rises are expected to be slow and gradual, some economists are suggesting one could now come this year - something previously considered highly unlikely.

It was a stronger performance than the previous month, which witnessed a fall of 0.4 per cent, and a significant improvement on the 0.9 per cent fall that came in the wake of the European Union referendum result in July 2016.

Mortgage lender Nationwide has reported three successive monthly falls in house prices for the first time since 2009.

"We can see now that price rises are muted despite high housing demand, indicating we have left the stage of the cycle where price rises exceed the rate of inflation".

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In the East Midlands, asking prices decreased by 0.4 per cent month-on-month.

Cumulative sales agreed during 2017 are nearly on a par with the same period in 2016, down by 0.4%, even though the first six months of past year was boosted by the rush to beat the April 2016 stamp duty deadline, the survey added.

Nonetheless, in London, house prices advanced 1.1 percent from June.

More than 45 per cent of agents' property stock was sold subject to contract - the highest proportion ever recorded by Rightmove since it began monitoring the trend seven years ago. Sellers coming to market at this time of year have to price more keenly, as the traditionally bubblier spring selling season is over and prospective buyers are distracted by their own summer holiday plans.

In a separate report on Monday, Deloitte LLP's Consumer Tracker showed confidence dropped the most in more than two years in the second quarter.

Chelsea 'the biggest club in England', claims star
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