The latest data has revealed that house prices in quarter 2 of this year were 1.8% higher than those recorded for the same period last year.
This is according to the most recent house price index from the Halifax, with the uplift in June slightly lower than May’s growth of 1.8%.
Between April and June, house prices were 0.7% lower than those observed in quarter 1, though Halifax has attributed this to the data’s monthly volatility.
Month-on-month, June saw prices grow by 0.3% up o £225,654.
Commenting on the figures was Alan Collett, Fund Manager at Hearthstone Investments. He said:
“In line with Halifax’s figures, independent valuations of our own properties are showing little change month on month. Regionally, we are seeing more buying opportunities in the Midlands and Yorkshire, where house prices are showing continued growth, than in the more expensive markets in parts of London where prices remain subdued as buyers adopt a “wait and see” approach in the face of the current economic and political uncertainties.
“We also continue to see strong demand for well-managed rental homes nationwide and currently have a record 96.5% occupancy rate of our properties. We recently let a new house within 48 hours of marketing beginning, illustrating the strength of the market for long-term investors. With some economic indicators looking more favourable and Mark Carney’s recent comments on the strength of the UK economy, we are confident the outlook for residential property will remain positive.”