uk-house-prices-unexpectedly-fall-in-july-–-halifax

UK house prices unexpectedly fall in July – Halifax

FILE PHOTO: A terrace of residential houses is seen in London August 10, 2010. REUTERS/Toby Melville

LONDON (Reuters) – British house prices unexpectedly dropped for a second month in a row in July, figures from mortgage lender Halifax showed on Wednesday, adding to signs that households are growing warier of making major financial decisions ahead of Brexit.

Halifax said house prices fell 0.2% on the month, compared with economists’ forecasts in a Reuters poll for a 0.3% rise, while the annual growth rate for the three months to July dropped to 4.1% from 5.7%, also a sharper decline than expected.

“With Brexit due to occur on 31 October — and it currently very unclear what will happen then — uncertainty will weigh down on the economy over the next few months at least and hamper the housing market,” economist Howard Archer of consultants EY ITEM Club said.

New British Prime Minister Boris Johnson has told officials to prepare for leavin

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