House price growth clings to double digits at 10.7%

Director of property lender MT Finance, Tomer Aboody, argued there was still evidence in June of confidence in the market due to the desire to buy and take advantage of mortgage rates before they increase further.

Meanwhile, former RICS residential chair Jeremy Leaf said he was finding that activity is more determined by lack of choice than recent cost of living and interest rate rises. 

“There is no question that increasingly-stretched affordability is holding back some, as well as slowing house price growth and the number of transactions,” said Leaf.

“But there is still demand for correctly-priced properties, underpinned by low unemployment and a race for space which is still not satisfied.”