Annual house price growth eases to 5.6% in June
- The Office for National Statistics reported today that average UK house prices rose 2.0% to £272,000 in the 12 months to June, slowing from 3.0% growth recorded in May.
- Aimee North, head of housing market indices at the ONS, said annual inflation slowed significantly because summer price growth was weaker this year than last year following stamp duty changes in England and Northern Ireland.
- Regional performance diverged sharply: the North West recorded the highest inflation at 4.7%, while London prices fell for the 10th consecutive month, and Northern Ireland jumped 9.2% to £202,000.
- Average UK private rents rose 3.7% to £1,393 in July, while David Hollingworth, associate director at L&C Mortgages, warned of a "volatile backdrop" making further mortgage rate fluctuations likely.
- Iain McKenzie, chief executive of the Guild of Property Professionals, expects activity to pick up this autumn as seasonal demand returns, with market growth increasingly driven by affordability rather than broad national momentum.
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House prices in wealthy London boroughs fall by up to £300,000
House prices in London’s most sought-after areas plummeted further in June, with the average price in some postcodes falling by nearly £300,000 year on year. London’s average house price slipped by 2.5 per cent to £554,000 in the year to June, according to the Office for National Statistics (ONS). Though this was a softer fall than May’s 3.1 per cent, prices in some of London’s most up-market areas suffered far bigger drops. The average house pr…
Evening Standard
The IndependentAnnual UK house price growth slowed to 2% in June, says ONS
Prices in London have been dropping for 10 months in a row, although the pace of falls has slowed.
House price growth slows to 2% for year to June: ONS
Average house prices rose by 2% to £272,000 in the year to June, according to the latest official figures. The annual growth rate slowed from 3% in May, marking the second consecutive month in which house price inflation has fallen. Average prices rose by just…The post House price growth slows to 2% for year to June: ONS appeared first on Mortgage Strategy.
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