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Financial News: UK House Price Growth Slows In June

UK House Price Growth Slows In June

07/06/2018 - 04:01:00 (RTTNews)

(RTTNews) - UK house prices increased at a slower pace in June, data from the Lloyds bank subsidiary Halifax and IHS Markit showed Friday.

House prices grew only 0.3 percent on month in June, following May's 1.7 percent increase. Prices were expected to gain 0.2 percent.

In three months to June, house prices advanced 1.8 percent annually, slower than the 1.9 percent rise seen in three months to May. The annual growth was forecast to ease to 1.6 percent.

"At the half way stage of the year the annual rate is within our forecast range of 0-3 percent for 2018," Russell Galley, Managing Director of Halifax said.

"We continue to see very positive factors of continuing low mortgage rates, great affordability levels and a robust labour market. The continuing shortage of properties for sale should also continue to support price growth," Galley added.

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