MNI DATA ANALYSIS: UK Annual House Price Growth Softer in June

--Halifax UK June House Prices +0.3% m/m; -0.7% 3m/3m; +1.8% 3my/y

     LONDON (MNI) - UK house price inflation decelerated marginally in June,

with year-on-year growth easing to 1.8%, down from 1.9% in May and 2.2% in

April, according to data from Halifax, the UK's leading mortgage provider.

     The more volatile monthly numbers showed moderate house price growth of

0.3% in June, following a rise of 1.7% in May and a decline of 3.1% in April --

suggesting a modest recovery is continuing following the weak start to Q2.

     On a quarterly basis, house prices fell 0.7% in the April-June period

relative to January-March.

     "House prices continue to remain broadly flat, with the annual rate of

growth marginally slowing from 1.9% in May to 1.8% in June," said Russell

Galley, Managing Director at Halifax Community Bank.

     Galley added that a number of factors remain supportive of further house

price growth this year: "At the half way stage of the year the annual rate is

within our forecast range of 0-3% for 2018. We continue to see very positive

factors of continuing low mortgage rates, great affordability levels and a

robust labour market. The continuing shortage of properties for sale should also

continue to support price growth."

--MNI London Bureau; +44 203 865 3828; email: jai.lakhani@marketnews.com

--MNI London Bureau; +44 207-862-7489; email: ukeditorial@marketnews.com

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