You are here: Home - Mortgages - Buy To Let - News -

Further house price growth in June

Written by:
House prices in the UK have grown for the second consecutive month, according to the latest Halifax house price index.
Further house price growth in June

Following a rise in May, the bank found that house prices had increased by 1% in June.

It added that the market had remained broadly steady in the last twelve months with an equal number of monthly gains and falls.

However, prices in June were 0.5% lower than the same month a year earlier. The average UK house price is now £162,417. The report also found that typical mortgage payments for a new borrower are around 26% of disposable earnings.

This rate, for first-time buyers and homemovers, is significantly lower than the 36% averaged over the past 27 years. Martin Ellis, housing economist at Halifax, said:

“There has been a marked improvement in the annual rate of change over the past 12 months.

“A year ago, in May 2011, house prices were falling at an annual rate of 4.2%. In contrast, there has been broad stability recently with the annual rate between 0% and – 0.5% in each of the past three months.

“The ending of the stamp duty holiday at the end of March appears to have distorted house price movements and sales in recent months. Nonetheless, despite falling back in April and May, sales remain slightly higher than a year ago.”

Russell Quirk, director at, added:

“You’d be two sandwiches short of a picnic if you took this one percent rise in house prices as a sign of market strength.

“The improvement in the annual rate of change suggests that prices have bottomed out, but a Black Swan event coming in from Europe could add further downward pressure.

“Anyone looking to sell in the current market has to put their property on at the right price, or be prepared to wait indefinitely. Buyers know they have a strong hand right now. The fact that supply is even weaker than demand is supporting prices.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week