UK house prices fell by almost 4% in July following the ending of stamp duty relief on properties worth between £250k and £500k.

Official figures released this morning show that prices were down 3.7% in the month, a much bigger fall than predicted by mortgage lenders in their monthly updates. The ONS data, derived from the Land Registry, showed the fall wiped out most of the gains from the shock 4.5% rise recorded in June in advance of the stamp duty deadline. Prices fell the most in the North-west and Yorkshire and Humber regions.

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