Homeowners looking to shift their properties can look forward to lucrative sales, as house prices have reached their highest point since the start of 2025.
Halifax's latest house price index reveals that across the UK, Northern Ireland experienced the strongest annual price growth in July, with property costs increasing by 9.3 per cent. Following this impressive jump, the average house price is now £214,832.
Scotland's house prices grew substantially in July, rising by 4.7 per cent to an average of £215,238.
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Properties in Northern Ireland saw the biggest annual house price increase in July
| GETTY IMAGESMeanwhile, in Wales, average house prices saw a smaller increase of around 2.7 per cent, making the standard house price £227,928.
Across England, the North West and Yorkshire & the Humber enjoyed the highest inflation rate in the region - four per cent each - making average property prices £242,293 and £215,532.
Moderate growth persisted across the South West, London, and the South East, with London remaining the most expensive UK region. As of July, the average property in the capital costs £539,914.
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Overall, the average house price stands at £298,237, marking a 0.4 per cent increase from last month's £297,157.
Head of mortgages at Halifax, Amanda Bryden, said: "UK house prices rose in July, up by 0.4 per cent (£1,080 in cash terms), the biggest monthly increase since the start of this year.
"While the national average remains close to a record high, it's worth remembering that prices vary widely across the country depending on a number of factors, not least location and property type.
'A steady path of modest gains' is expected for the rest of the year
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"Challenges remain for those looking to move up or onto the property ladder. But with mortgage rates continuing to ease and wages still rising, the picture on affordability is gradually improving.
"Combined with the more flexible affordability assessments now in place, the result is a housing market that continues to show resilience, with activity levels holding up well."
Looking to the coming months, the housing chief forecast: "We expect house prices to follow a steady path of modest gains through the rest of the year.”