House prices up slightly in June - Mortgages - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

House prices up slightly in June

House prices up slightly in June

Category: Mortgages

Updated: 16/08/2011
First Published: 16/08/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

House prices increased slightly in June, although values in the UK have fallen over the last 12 months.

Figures from the Department for Communities and Local Government (DCLG) show that prices increased by 0.6% in June compared with May.

However, over the 12 months to June, prices in the UK fell by 2%, taking the average price to £204,981.

There were large scale differences between countries in the UK .

The heaviest falls over the last 12 months were seen in Northern Ireland , where the average house price fell by 8.1%, while in Wales and Scotland the average house price fell by 5.6% and 2.3% respectively.

England was the country with the smallest annual decline, with the average price down by 1.8% in the year to June.

And, unsurprisingly, the capital bucked the UK wide trend, as prices in London rose by 1.5% over the 12 months.

London also saw a 1.6% month-on-month rise in June, as seven of the nine English regions saw monthly upturns, with only the Humber and the North West falling.

Buyers looking to invest in bricks and mortar in the capital can expect to part with a princely £340,664 to do so.

In the UK as a whole, the average price for properties bought by first time buyers decreased by 2.2% to £151,563 over the year to June.

Properties purchased by former owner occupiers also decreased over the year, by 2% to £237,912.

Find the best mortgage rate - Compare best selling mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
 
Close