UK house prices rose 0.2% in June, reaching an average of £266,064; a 1.5% increase YoY, with mortgage transactions down by a quarter due to higher costs.
UK house prices rose by 0.2% in June, reaching an average of £266,064, according to Nationwide Building Society. This marks a 1.5% increase compared to the same period last year, although the growth rate slowed from a 0.4% increase in May. The total number of transactions has decreased by approximately 15% compared to 2019, with mortgage transactions down almost a quarter due to higher borrowing costs. Mortgage rates have remained high following the Bank of England's decision to keep the base interest rate at 5.25% longer than expected.
July 01, 2024
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