Rolling coverage of the latest economic and financial news
The average price of new build property prices rose by 1.9% in the year to June – stronger than the wider market, but the slowest rate in over three years.
Existing properties, Halifax says “were instrumental in driving prices up during the pandemic related housing rush”, were down by -3.5% year-on-year in June. That was the steepest decline since August 2009.
Average house price fell by -0.1% in June, a third consecutive monthly decline
• Annual rate of house price growth fell to -2.6%, from -1.1% in May
• Typical UK property now costs £285,932 (vs peak of £293,992 last August)
• New build prices more resilient compared to existing homes
• Southern England sees most downward pressure on property prices
