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Free AccessMNI 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
[TOPICS: MABDS$,M$B$$$,M$E$$$]
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Why MNI
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