House Prices Stagnate
Published / Last Updated on 05/07/2018
Halifax has today released its latest UK property house price index for June 2018. The average house price in the UK in June 2018 has risen to £225,654 from £224,439 in May.
Halifax found that house prices in June 2018 were 1.8% higher than in June 2017. This means the market is flat and stagnating.
Despite seasonal interest and a lack of property availability prices only increased by just 0.3% in the month of June.
Comparing Halifax’s quarterly, April to June figures, house prices were actually down again -0.7%.
Read Halifax's Full House Price Index Report
Comment
It is status quo maintained over the last year as house prices remain relatively flat given uncertainty on Brexit, the economy and long awaited wage growth.
Housing supply is low as people sit tight and wait for economic uncertainty to pass. Unemployment is still falling with an additional 220,000 people back in work over the last 3 months, so wage growth is now rising and with Summer here, property activity is marginally up and so confidence may return.