UK house prices saw no growth for the second consecutive month in June, with average prices falling slightly. Rising interest rates, influenced by the war in Iran, have dampened buyer demand, leading estate agents to predict a quiet summer.
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Business news – live updates UK house prices fell for a second consecutive month in April, as Halifax halved its estimate for the annual rate of growth due to the conflict in the Middle East.Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said that the cost of a typical UK home fell by 0.1% in April, to £299,313. This followed a 0.5% fall in March. Continue reading...
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%Business news – live updates UK house prices fell for a second consecutive month in April, as Halifax halved its estimate for the annual rate of growth due to the conflict in the Middle East.Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said that the cost of a typical UK home fell by 0.1% in April, to £299,313. This followed a 0.5% fall in March. Continue reading...
Rolling coverage of the latest economic and financial newsAcross the UK, house prices are rising faster in the north of the country, and falling parts of the South.Halifax reports:Northern Ireland still leads UK annual house price growth, with average prices up +7.6% over the past year to £224,851.Scotland also recorded strong growth, rising +4.0% annually to an average price of £222,448.Wales has seen property price growth continue to slow, now +0.7% on annual basis, taking the typical home value to £230,952.The North East of England saw prices rise +4.5% over the year to £183,445, while the North West recorded annual growth of +3.4%, with the average home now costing £248,945.By contrast, the southern markets continue to see prices fall. The South East led declines, with prices down -2.0% year‑on‑year to £383,044, while London saw average values fall by - 1.4% to £536,051.“After a strong start to the year, recent global developments have added a greater degree of uncertainty to the outlook. In particular, higher energy prices have fed into inflation expectations, prompting markets to reassess the path for interest rates – a shift that has already pushed up borrowing costs for many buyers.“This understandably leads to more caution among some households, with the cost-of-living once again front of mind and extra thought being given to planned property moves. Continue reading...
UK house prices rose at the fastest annual pace in 11 months in April, jumping 3% year-on-year to £278,880, according to Nationwide. The 0.4% monthly increase marked the fourth consecutive month of growth, surprising economists who had expected a 0.3% fall. Despite weakening consumer confidence and rising uncertainty from Middle East tensions, the housing market showed resilience with the three-month growth rate reaching 1.2%.
