UK house prices were broadly stagnant in July as prospective buyers were squeezed by higher mortgage rates, uncertainty around the Middle East and stretched affordability, according to the lender Lloyds. The average property cost £299,253 in July, down by £143 compared with June, the bank’s monthly index found. Prices are only 0.1% higher compared with a year ago, the weakest rate of annual growth since November 2023, Lloyds said. “While housing demand remains broadly steady, activity continues to respond quickly to changes in mortgage rates,” she said. Developments will be shaped by both how mortgage rates respond to the outlook for inflation and wider household confidence.”