Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Annual UK house price growth rose at the fastest rate in June since November 2004, according to the Nationwide, rising 13.4% y/y. The strength "is partly due to base effects, with June last year unusually weak due to the first lockdown," according to group Chief Economist Robert Gardner. However, the housing market remains strong with monthly prices rising by 0.7%, Gardener added.
The average UK house price rose to a new all-time high in June. All UK regions saw an increase in house prices in Q2 with Northern Ireland (14%) and Wales (13%) recording the largest increases, while Scotland (7.1%) saw the smallest uptick.
"The typical mortgage payment is not high by historic standards compared to take home pay, largely because mortgage rates remain close to all-time lows – in fact, on this measure affordability remains broadly in line with its long run average," Gardener added.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.