Prices didn’t go up, but they didn’t fall in June, according to the building society
House price growth was flat in June at 0.0% comapred to a fall of 0.3% in May, according to the latest Halifax house price index.
The average property price was £296,665 in June compared to £296,782 the previous month.
The annual rate of growth is slightly down to +2.5% from +2.6 in May.
Amanda Bryden, head of mortgages, Halifax, said: “The UK housing market remained steady in June, with the average property price effectively unchanged over the month, following a slight drop of -0.3% in May. At £296,665, the average house price is still around +2.5% higher than this time last year.”
Bryden predicts modest house price growth in the second half of the year, with markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages at its lowest since 2023.
>>See also: House prices show ‘unusual dip’ in June
Northern Ireland recorded the fastest pace of annual property price inflation in the UK, up by +9.6% over the past year. The typical home now costs £212,189.
Scotland recorded the next strongest annual house price growth in June, increasing by +4.9% with average prices now at £214,891.
Property prices in Wales were up +3.9%, to an average of £229,622.
Among English regions the North West has the highest rate of property price inflation, up +4.4% over the last year to £241,938.
The South West and London continue to see more subdued growth, with prices rising by just +0.5% and +0.6% respectively. However, the capital remains by far the most expensive part of the UK, with the average home now priced at £540,048.
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