Housing market remains subdued as mortgage approvals fall to a two and a half year low

Approvals for house purchases fell to 56,053, the lowest since January 2024 and down from 58,215 in June.

House prices continued their sluggish run in August, gaining just 0.2 per cent on the previous month, as uncertainty caused by the Iran war and the upcoming Budget in October weigh on the market.  The average UK house price grew by 1.6 per cent to £275,465 in the year to August, marking a slight improvement…