UK House Price Growth Moderates In July

(RTTNews) - UK house prices grew at a slower pace in July, data published by the Office for National Statistics revealed Wednesday.

Average house prices climbed 2.2 percent on a yearly basis after June's 2.7 percent growth. This was the fifth consecutive annual increase in prices, following eight months of falls.

The North East was the English region with the highest house price inflation in July, at 3.8 percent. London posted the lowest annual house price inflation in July, down 0.4 percent from a year ago.

Data showed that private rents moved up 8.4 percent annually, slower than the 8.6 percent increase in July.