UK House Prices up Slightly in June Despite High Interest Rates

Published on July 2, 2024

House prices in the UK have edged up 0.2 percent in June following a steady month-on-month increase with no real easing of interest rates, according to a Nationwide Building Society housing index report. Data from index published on Monday shows that the average price of a home across Britian is up 1.5 percent from June last year, with an average cost of £266,054. In May, housing prices performed double as well with a growth rate of 0.4 percent. However, the continuation of high interest rates in conjunction with an increased market supply of houses have kept prices relatively steady. The index report pointed out that despite high interest rates, house prices in the UK are only three percent lower than the all-time price record set in the summer of 2022....

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