English>

Market News

UK House Prices Continue to Defy Slowdown Fears, Halifax Says - BLOOMBERG

JULY 09, 2022

(Bloomberg) -- UK house prices continued to shrug off cost of living fears in June, posting the biggest monthly rise since early 2007, according to Halifax.

A shortage of properties coming on to the market combined with continuing strong demand saw prices rise for a 12th consecutive month, the mortgage lender said in a report Thursday. 

Compared with the same month last year, prices were up 13% -- the fastest annual growth rate since late 2004. It took the average property value to a new record of £294,845 ($352,160).

“The UK housing market defied any expectations of a slowdown,”said Russell Galley, managing director at Halifax.

“The supply-demand imbalance continues to be the reason house prices are rising so sharply. Demand is still strong -– though activity levels have slowed to be in line with pre-Covid averages -– while the stock of available properties for sale remains extremely low.”

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics