House prices defy expectations to hit record

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House prices defy expectations to hit record
Belgique Dernières Nouvelles,Belgique Actualités
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The average house price reached £294,845 in June but Halifax expects growth to slow.

House prices hit a fresh record in June, according to Halifax, despite expectations the rising cost of living in the UK would dampen demand.

"This is partly because, right now, the rise in the cost of living is being felt most by people on lower incomes, who are typically less active in buying and selling houses. Halifax expects, however, that the "increased pressure on household budgets from inflation and higher interest rates should weigh more heavily on the housing market, given the impact this has on affordability"

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