InvestmentsAug 19 2014

UK house price gains ease in June - ONS

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UK house prices continued to rise in June, but at a slower pace - up 0.5 per cent month-on-month, compared to May’s 0.8 per cent appreciation.

The figures from the Office for National Statistics trail those from other sources such as the Halifax and Nationwide building societies, but they are official statistics that confirm the significant growth in home values over the past year, particularly in the London area.

House prices have climbed 10.2 per cent year-on-year, according to the ONS, down from 10.4 per cent in May, while month-on-month growth had been as much as 2 per cent as recently as April.

Prices paid by first-time buyers were 12 per cent higher than a year ago.

The differently gathered data have varied - the Nationwide reported a 1.0 per cent month-on-month rise in June and went on to report one of just 0.1 per cent for July, while the Halifax index reported a 1.4 per cent jump for July.

On Monday (18 August), the estate agent Rightmove reported asking prices of property coming onto the market fell by 2.9 per cent in August.