UK Housing Market Remains Steady Despite High Mortgage Costs

House prices hold at record levels while renting becomes increasingly cheaper than buying due to elevated mortgage rates.

The average UK house price in June was £375,110, a slight decrease from May's record high.
High mortgage rates have made renting more affordable than buying in most parts of the country.
The upcoming general election has had minimal impact on overall market activity.
Experts suggest that a cut in interest rates could boost housing demand.
Despite affordability challenges, market stability is seen as a positive sign by industry commentators.