UK House Prices Hit Another High But Slowing

Published / Last Updated on 18/07/2022

Rightmove has revealed findings that UK prices continue to rise and set a 6-month consecutive record for increases.  The average UK house is now £369,968, up 0.4% in June alone. 

This was also confirmed by the Nationwide Property Index for June, which indicated a year-on-year increase of 10.7% pa although Nationwide also concur with the Rightmove Index in that price increases are slowing down.

Nationwide claims this is the 10th consecutive month whereas Rightmove suggest this is the 6th consecutive month.  We suggest this is more likely to do with Nationwide being a lender i.e., basing their figures on valuations and lending completions whereas Rightmove is concerned with the asking/selling price.

In Rightmove’s report, it suggests:

Buyer demand is 26% higher than in 2019 (pre-pandemic) but 7% down since June last year.  That said, Rightmove also suggested that more properties are coming onto the market with 13% more properties for sale in June 2022 compared to June 2021.  This too will curb future house price increases.


The property cycle continues. 

There is always a period of growth after economic troubles, in this case covid-19, prices then become unaffordable as wages needed to catch up, house prices steady or fall and then with wages catching up and more inflation, another up-cycle will come. 

We saw it in the 80’s then falls in the early 90s, then prices doubling up again every 10 years or so until another correction cycle.

Explore our Site

Money MOT
T and C