UK house prices were broadly flat in July, with the average property valued at £299,253, according to Lloyds. That was £143 lower than in June and just 0.1% higher than a year earlier, the weakest annual growth since November 2023. Higher mortgage rates and affordability pressures have restrained demand, with two-year fixed rates averaging about 5.63% and five-year deals 5.67%. Lloyds expects prices and activity to remain relatively stable for the rest of the year if inflation and confidence do not worsen.