UK House Price Growth Slows In June

British house price growth cooled in annual terms to a four-month low in June, as expected, mortgage lender Halifax said on Friday. According to the lender, United Kingdom prices leapt 1.6% in March, dropped by 3.1% in April, the steepest monthly fall since 2010, and then rose by 1.7% in May.

Russell Galley, managing director of Halifax, said: "Activity levels, like house price growth, have softened compared with the final months of past year". Nationwide building society said prices rose by 0.5% in June, and that annual price growth was running at 2% - the lowest figure for five years. We continue to see very positive factors of continuing low mortgage rates, great affordability levels and a robust labour market. Regionally, we are seeing more buying opportunities in the Midlands and Yorkshire, where house prices are showing continued growth, than in the more expensive markets in parts of London where prices remain subdued as buyers adopt a "wait and see" approach in the face of the current economic and political uncertainties.

"Transaction levels, new buyer enquiries and supply have been depressed for some time now and shopping baskets continue to go up in price faster than shoppers' homes".

He said: "We agree with Halifax's overall assessment that the market will continue to rise slowly for the rest of the year".

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "Halifax's house prices index now has fallen for two consecutive quarters - by 0.1 per cent and 0.7 per cent quarter-on-quarter in quarter one and quarter two, respectively - and the trend likely won't improve soon".

Archer added: "The fundamentals for house buyers are likely to remain challenging".

"These figures show a stable housing market, with a small monthly rise in prices, and the annual rate of increase unchanged at 1.8 per cent". We continue to suspect that any meaningful housing market upturn will remain elusive over the coming months. "With some economic indicators looking more favourable and Mark Carney's recent comments on the strength of the United Kingdom economy, we are confident the outlook for residential property will remain positive".

Related News:

  • Britain's Johnson Robustly Opposed PM's Brexit Plan

    Veteran eurosceptic MP Bill Cash also told the BBC he was "deeply disappointed". It remains to be seen whether the foreign secretary will be less vocal.
    Iran summons Dutch ambassador over deportation of its diplomats

    Iran summons Dutch ambassador over deportation of its diplomats

    The Dutch intelligence agency revealed on Friday that Amsterdam had expelled in June two workers from the Iranian embassy. The expulsions appeared to precede recent moves by other European countries against Iranian citizens.
    Argentina ace Cristian Pavon’s agent dismisses Gunners link

    Argentina ace Cristian Pavon’s agent dismisses Gunners link

    Arsenal are reportedly still to make a move for Cristian Pavon as we round-up the latest transfer rumours on Friday, July 6. Pavon's agent has revealed Arsenal have yet to submit a bid for the Argentina winger, reports the Mirror .
  • UFC 226 Results: Daniel Cormier KO’s Heavyweight Stipe Miocic

    UFC 226 Results: Daniel Cormier KO’s Heavyweight Stipe Miocic

    Lesnar won the fight via unanimous decision, but it was later changed to a no-contest after the positive tests were revealed. Ngannou will have to earn that title shot as he is also on the UFC 226 slate battling knockout artist Derrick Lewis .
    Bourdain left bulk of $1.2M estate to his daughter

    Bourdain left bulk of $1.2M estate to his daughter

    The court will choose a guardian of the estate to safekeep Ariane's inheritance until she is of age, according to the documents. Since Ariane is a minor, the will listed Ottavia Busia-Bourdain, his estranged wife as the trustee .
    Michael Cohen Hires Former Bill Clinton Lawyer Lanny Davis

    Michael Cohen Hires Former Bill Clinton Lawyer Lanny Davis

    Cohen also had his office raided in April by the Federal Bureau of Investigation at the referral of Robert Mueller . Attorney Harry Sandick said. "This is something he would have paid for no matter what", Giuliani said.
  • England 'absolutely good enough' to win World Cup says Sweden's Janne Andersson

    England 'absolutely good enough' to win World Cup says Sweden's Janne Andersson

    The crowd went wild after the goal, and Fortnite fans online celebrated yet another World Cup nod to the video game. A chant of "On our way, on our way, to Moscow, on our way" came from England fans in one corner of the Samara Arena.

    Lions kill suspected rhino poachers on South African wildlife reserve

    Someone had sawn off their heads and paws-body parts used in traditional medicine, like rhino horn. So far this year, nine rhinos have been killed in East Cape Reserves.
    Canada trade deficit expands as imports rise, exports edge down

    Canada trade deficit expands as imports rise, exports edge down

    The trade deficit rose to Euro 6.0 billion in May from Euro 5.21 billion in the previous month. In the meantime, import volumes rose 1.2 percent on the month.
  • Sweden's manager made some classy comments about England after World Cup loss

    Two years ago, he was in the stands watching England crash out at the hands of underdogs Iceland at Euro 2016. The third-place game, between the semifinals losers, will be played on Saturday, July 14.
    United States  adds 213000 jobs in June, unemployment rate jumps to 4%

    United States adds 213000 jobs in June, unemployment rate jumps to 4%

    The department's data shows 601,000 new people chose to actively look for a job in June, after not seeking a job previously . The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population.
    Rescuers begin operation to bring out 13 trapped in Thai cave

    Rescuers begin operation to bring out 13 trapped in Thai cave

    They were located on a small cliff about 4 kilometers away from the cave entrance when the search entered the ninth day on July 2. In the hours preceding the rescue, a letter the boys had sent to their families was published on the Thai SEALs' Facebook page.

Most liked

Gal Gadot dresses as Wonder Woman to surprise kids at children's hospital
Dressed completely at Diana Prince herself, Gal was seen beaming as she held tiny babies who are now too ill to be home. That's the case when it comes to Gal Gadot , whose portrayal of Wonder Woman has endeared her to moviegoers of all ages.

Turkey sacks 18,500 state employees in new decree
The government blames a US-based cleric for orchestrating the coup and has sacked or arrested people suspected of links to him. The current state of emergency ends on July 18, unless extended for another term by the president and approved by parliament.

Ant-Man and the Wasp Gets Really Big Opening Weekend
The 2018 box office as a whole, which just hit $6.5 billion, is up 9 percent from past year , according to ComScore. Internationally, Incredibles 2 debuted in France this weekend with an estimated $10.6 million (including previews).

Transfer News Barcelona midfielder admits Chinese Super League offer 15 hours ago
Paulinho previously struggled to settle in two seasons spent at Tottenham after making the switch to the Premier League side back in 2013.

Hailey Got Bieber to Shave His Mustache
When it comes to Baldwin and Bieber it would appear that the term "casually dating" takes on a whole new meaning. Justin Bieber and Hailey Baldwin are reportedly engaged, according to media reports out moments ago.

3 million-year-old toddler could climb trees, study says
So although the afarensis toddlers could walk, they probably spent more time in trees than on foot, unlike adults. Fossils of these ancient humans showed such a feet structure of the young ones that it seems they scaled trees.

Scientists Race To Save Bananas From Extinction
Andre specializes in environmental health, but writes on a variety of issues. According to scientists , bananas may go extinct due to a disease .

Matteo Guendouzi to undergo medical TOMORROW
French publication RMC Sport has reported that the player will sign a deal at Arsenal at the start of this coming week. Should he move to the Emirates, Guendouzi could be joined in the Arsenal midfield by Uruguay worldwide Lucas Torreira.

Giuliani: 'No concerns' about Cohen cooperating with investigators
The biggest question hanging over the investigation right now is whether or not Trump will sit down with Mueller for an interview. Giuliani echoed this sentiment on ABC's "This Week" with George Stephanopoulos on Sunday.

Carmelo Anthony Leaving OKC Thunder: Will He Join LeBron James In LA?
The Towson Catholic graduate's relationship with the team has soured in the year since he was traded to Oklahoma City. Melo struggled to adapt to a new role as a power forward last season and as a lesser cog in his team's offense.

Brexit: May's European Union plan faces backlash from Brexiteers
She said the common rulebook would mean "British businesses will continue to be a rule-taker from the EU". May hopes it will jumpstart the acrimonious discussions about the terms of Brexit.

Jordan Dajani: Who's Impressing Early On In The Summer League
And Thursday it was undrafted rookie out of Georgetown Marcus Derrickson who exploded for 24 points and 11 rebounds. He's averaging 16 points and seven assists so far in the Summer League and has hit some pretty ridiculous shots.

England exult after booking semi-final spot
An ambulance vehicle has been badly damaged amid wild celebrations in London after England's World Cup quarter-final victory.

Canada says joblessness rose slightly in June to 6%
Higher imports in May of aircraft, other transportation equipment and energy products fuelled most of the increase. The jobs gain was driven by an increase of 22,700 in part-time positions, while full-time work rose by 9,100.

Why England have been WARNED over shaking hands with fellow footballers
It put England in good stead in Russian Federation and the long term, too, albeit there are still hurdles to overcome. It was the first game Mr Hogg has been able to attend and he was able to speak with his nephew after the game.