Bank of England

House prices have fallen in July in response to interest rate rises and the average mortgage being sought by first time buyers has reached its lowest level in 18 months, a report suggests.

Signs of a cooling housing market caused the Bank of England's Monetary Policy Committee to unanimously vote to keep interest rates at 5.75% in August, according to minutes released by the BoE today.

The latest Lloyds TSB Scotland House Price Monitor has found that house price growth is beginning to slow north of the border.

The Bank of England misled the public in a bid to justify five base rate jumps in under a year, property investment firm Assetz claims.

Confirmation interest rates are likely to hit 6% before dropping has sparked angry protests across the industry.

Research published today by the National Housing Federation (NHF) claims that the average house price in England will rise to over £300,000 within five years.

Ratings agency Fitch claims that UK house prices could be as much as 20% overvalued compared with their long-term average.

House prices will begin to fall in August as interest rates give homebuyers the upper hand in the negotiating process, according to Your Move.

Minutes from the Monetary Policy Committee's monthly meeting, released today, show that Bank of England policymakers voted 6-3 to increase interest rates.

The pound hit its highest level for 26 years earlier today after concerns surrounding the US sub-prime housing market saw the dollar plummet to a 12-year low.