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UK house prices inched higher in June, Lloyds data shows
Lloyds said easing mortgage rates are supporting demand, but affordability pressures and economic uncertainty are limiting stronger gains.
- On Tuesday, the Lloyds House Price Index reported UK house prices rose 0.2% in June, the first monthly increase in four months. The average property price reached £299,330, with annual growth edging up to 0.6%.
- Lloyds Banking Group recently rebranded its long-running house price index from Halifax, a nameplate used for 173 years, as economic uncertainty and global events continued to affect inflation and interest rate expectations.
- Regional performance varies significantly across the UK, with Northern Ireland recording 7.4% annual growth while London prices declined by 1.1%. This divergence illustrates how local markets continue to decouple from national trends.
- Contrasting assessments emerged from market experts: Iain McKenzie of The Guild of Property Professionals called the growth an "encouraging sign" of resilience, while Sarah Coles of AJ Bell observed the index started "with a whimper, not a bang."
- Looking ahead, mortgage rates have eased from recent highs, offering encouragement to buyers, though affordability constraints remain stretched. Market experts warn the outlook depends on inflation continuing to ease and household confidence gradually improving.
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17 Articles
17 Articles
Evening Standard+3 Reposted by 3 other sources
Average UK house price increases month on month for first time since February
Recent price trends continue to reflect ‘wider economic uncertainty’, Lloyds said.
·London, United Kingdom
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House prices edge up as mortgage rates fall from Iran war highs
House prices inched up in June as mortgage rates softened following a sharp spike in response to the Iran war. The average UK property price rose by 0.2 per cent in June to £299,330, compared to a 0.2 per cent fall in May, according to the Lloyds house price index. Inflationary fears and expectation of higher interest rates caused by the Middle East conflict have damaged property market confidence in recent months, but lenders have begun to low…
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left3Leaning Right0Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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