Surprise as UK house prices set record after four months of falls

Survey reveals 1.6% monthly rise in July, raising average property value to £241,600

House prices in Britain leaped to a new high in July, in a “surprising spike” after the market was put on pause earlier this year, according to Halifax.

The bank said property values jumped by 1.6%, or £3,770, month-on-month on average in July, and across the UK the average property value was £241,604 in July, up from £237,834 in June.

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