Financial Times - UK housing market in ‘suspended animation’

UK house prices flatlined in July as buyers faced an “uncertain economic backdrop”, affordability challenges and volatile mortgage rates. Lloyds, the UK’s biggest mortgage lender, said average house prices were unchanged last month, after a 0.2 per cent rise in June. 

Aaron Strutt, product director at broker Trinity Financial, pointed to a tracker mortgage at 3.99 per cent from Barclays as good value for money even in the event of a possible base rate increase later this year. “Hopefully a few more lenders will lower rates again and we can reverse the scale of the [mortgage] price rises we have seen recently.”

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