House price growth increases in June

House prices rose by 0.6% in the year to June, according to the latest Lloyds index.

The data shows the average UK house price rose to £299,530, with the rate of annual growth up from 0.4% and 0.5% in the 12 months to April and May respectively.

Prices were also 0.2% higher than the previous month, marking the first month-on-month increase since February.

Amanda Bryden, head of mortgages at Lloyds, said: “Looking ahead, we expect the housing market to continue moving at a measured pace. Lower borrowing costs should provide some support for demand, though affordability constraints remain an important factor.”

Analyst Anthony Codling, managing director at RBC Capital Markets, said: “After a choppy few months shaped by global uncertainty, tariff-driven inflation anxiety and the resulting rate volatility, June’s data offers a tentative but welcome signal that the market is finding its footing

Prices grew on an annual basis by 7.4% in Northern Ireland and 3.9% in Scotland while the North East (2.8%) North West (2.4%) also posted relatively strong growth. Conversely the south of England saw prices fall,, with the South East (-2%), South West (-1.3%) and London (-1.1%) posting falls.