Mortgage lender Halifax has said average property prices dropped for a fourth consecutive month in July, as the housing market continued to track the performance of the wider economy.

In real terms, this means that a typical home now costs £285,044, down from a peak of £293,992 in August 2022. However, following prices rises earlier in the spring, values are effectively comparative to February of this year, when an average house cost £285,660.

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