UK Housing Stalls as BoE Holds Firm: Rates, Housebuilders, and the Iran War Squeeze Property Market

The UK housing market is grinding to a halt in the peak summer buying season. Nationwide reported house prices rose just 0.1% in July to an average of £277,542 — a mere £58 increase from June — while annual growth slumped to 1.8% from 2.2% the prior month. The Bank of England held rates at 3.75% on Thursday, with three MPC members now voting for a hike, up from two previously, as Catherine Mann joined hawks Huw Pill and Megan Greene. Governor Andrew...