House prices climbed at their fastest rate since January as falling mortgage rates provided a boost to home buyers.
The average price of property in the UK grew last month by 0.4pc last month, increasing to £298,237 compared to £297,157 in June, according to Halifax. Prices were 2.4pc higher than they were a year earlier.
It marks a return to price growth after a two-month slowdown brought on by the end of tax breaks on stamp duty in April. Prices climbed at their fastest rate since the start of the year, up on average £1,080.
The lender reported that house prices in the UK fell by 0.3pc in May and were flat in June as the market stalled following the end of the temporary tax cut. The change added thousands of pounds to the purchase price of most properties.
However, borrowing costs for house hunters have been gradually falling this year as the Bank of England eases interest rates, with lenders generally offering rates below 4pc for the best deals.
