House Price News

UK house price growth accelerated in June, defying expectations that the market will cool as consumers face pressure from rampant inflation, figures. According to Halifax, UK house prices rose 13% yearly in June, the strongest growth since late 2004, accelerating from an 11% rise in May. Monthly, prices rose 1.8%, hitting GBP294,845, another record high. House prices have now risen for 12 months on-the-bounce, Halifax noted.

In May, house prices had risen 1.2%. “The UK housing market defied any expectations of a slowdown, with average property prices up 1.8% in June, the biggest monthly rise since early 2007.  This means house prices have now risen every month over the last year, and are up by 6.8% or GBP18,849 in cash terms so far in 2022,” Halifax Managing Director Russell Galley commented.

 

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