Buyers are now paying 96.8% of the asking price, the highest for 18 months.

The largest deficit between asking price and sold price is currently found in Wales.

House prices have increased for the third consecutive month.

There are signs that some would-be movers are waiting for the first Bank of England Base Rate cut, Rightmove says.

House prices have risen by just 0.4% so far this year.

Prices remained broadly stable in June, despite a mixed picture amongst the regions in Q2.

Interest rates hold the key to the near-term outlook for the sales market, Zoopla says.

The average UK house price was £281,000 in April - £3,000 higher than 12 months ago.

While the UK housing market is now the same size as it was pre-pandemic, its make-up looks different.

Weekly pension income has only increased by 1% p.a. in real terms over the last decade, while house prices have jumped by two-thirds.