UK house prices rise 5.7%

Halifax’s latest house price index has revealed that UK house prices rose by 5.7% on an annual basis month in June, taking the average UK house price to £237,110. That compares to May’s £237,837, when Halifax recorded an annual growth rate of 5.2% – the best in two years until Friday’s figures. Russell Galley, managing director of Halifax, said: “Recent industry figures show demand looking slightly more stable, with mortgage approvals ticking along just above the long-term average.” However, he warned that a “major restraining factor” for the UK housing market was the lack of houses up for sale.

The Times (05/07/2019)