House prices see largest monthly rise of the year

THE average house price jumped by 0.4% or more than £1,000 in cash terms in July, Halifax has reported.

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Across the UK, the average property value in July was £298,237, up from £297,157 in June. Over the last year prices have risen by 0.2% in the South West, according to the figures.

Amanda Bryden, head of mortgages at Halifax, said: “UK house prices rose in July, up by 0.4% (£1,080 in cash terms), the biggest monthly increase since the start of this year.

“The average house price is now £298,237, 2.4% higher than a year ago.