UK house prices returned to muted growth in July, but the market remains softUK house prices returned to muted growth in July – but the market remains “soft” amid an uncertain economic and geopolitical backdrop, according to new figures. Nationwide Building Society said the average house price edged 0.1% higher month on month to £277,542 in July, which follows two months of falling or stagnant prices. It comes after lenders have been hiking their mortgage rates in recent weeks, despite the base rate being held at 3.75%. Robert Gardner, Nationwide’s chief economist, said: “Market activity and house prices have remained soft in recent months, in part reflecting the uncertain economic backdrop. But he warned speculation over incoming policy changes under the new Prime Minister may hold the property market back.