By Rachel Elgar 

Halifax’s house price index for July 2018 indicates that the average house price has hit a new record high of £230,280, representing an increase of 3.3% against the same period a year ago.

Overall, however, the market picture is similar to recent periods.

Sales of homes in the UK fell by 3% to 93,340 in June. The volume of residential transactions has been flat over the last year and indications are that this is likely to remain so in the coming months.