Growth in UK property values slowed in the last 12 months ending July, states Halifax.
The largest mortgage lender in the country confirms that prices rose at an annual rate of 7.9{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} last month – compared to 9.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} in June.
During July, prices appear to have fallen by 0.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34}, the largest monthly drop since April 2014.
This means that the average price of a flat or house across the country is now £198,883.
The Halifax figures are in contrast to those from Nationwide, which said earlier this week that the rate of house price growth picked up to 3.5{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} in July, from 3.3{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} a month earlier.
Nevertheless, Halifax expects strong growth in prices for the remainder of 2015.
Source: BBC Business News