Property website Rightmove said average asking prices of homes coming onto the market declined by 0.2% last month, compared with the 0% norm for this time of the year.
Britain's housing market has been hit by rapid increases in interest rates, which financial markets expect to rise to 6.25% by the end of this year from 5% now, adding to pressure on homeowners and buyers. House prices have also shown the impact from higher rates, with mortgage lenders Nationwide and Halifax both reporting falls in annual prices in June as buyer demand softened.
Source: News Formal (newsformal.com)
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