UK house prices fall for first time since June 2021, says Halifax

Market cools in July as lender warns of impact of higher interest rates and cost of living crisis

UK house prices fell for the first time in more than a year in July, as the country's largest lender warned of the impact of higher interest rates and the broader cost of living crisis.

The average price of a home was 293,221 last month, down 0.1% month on month, the first decrease since June last year, according to the latest report from Halifax.