British house price inflation accelerated in July to 14.3 per cent year-on-year in July, from 13.9 per cent in June, official data showed today.
The figures are not likely to stir worries the housing market is reigniting, however, given that more recent reports from mortgage lenders for the month of August showed either no monthly gains or outright falls.
They are not likely to alter expectations for another interest rate rise from the Bank of England later this year to five per cent.
The Office of the Deputy Prime Minister said the mix-adjusted average house price in Britain stood at £177,474 in July, up from £173,756 in June. The figures are not seasonally adjusted.
Annual house price inflation in London, which tends to lead overall trends in housing, slipped to 8.4 per cent in July from 11.8 per cent in June.
All countries in the UK saw an acceleration in annual inflation rates, with the exception of Scotland, which slipped from very high rates, to 22.3 per cent in July from 23.8 per cent in the month before.