House prices went up in June

 

House prices across the UK increased by 0.6% in the three months to June despite all Brexit fears – only London house prices saw a drop of 1.4% between May and June.

Reeds Rains monthly house price index revealed that prices across Britain were up 6% in June 2016 compared to 12 months earlier. The report also identified England’s East as possibly the new regional hotspot for house price growth after the region experienced a growth of 9.4% year-on-year.

On average the sale price for a house in the UK is now at £293,444.

 

 

The report also showed the number of transactions between March and May rose by 8% compared to the same three months one year earlier. However Reeds Rains also highlighted that this number is reflective of the huge rise in market activity when buyers tried to complete purchases ahead of the new stamp duty surcharge coming into effect the MEN reportedhttps://www.buyassociation.co.uk/2016/06/20/stamp-duty-stampede-shows-its-consequences/.

“Brexit will undoubtedly have a wide range of consequences for the housing market, however, it would be wrong to assume that these will all be negative,” said Adrian Gill, director of Your Move and Reeds Rains.

Exactly how the implications will play out in the sector over the coming months is yet to be seen, and whist London is likely to feel the effects more acutely, it is important to remember that the outlook is not all doom and gloom. Already lower interest rates promised by the Bank of England to stave off any slowdown are set to ease affordability and support prices.”

Gill added:

What is clear is that the impact of April’s Stamp Duty increase has now largely played out, and there’s little evidence to suggest it has significantly hit investor appetite: first time landlords seem no less common and there’s new interest in mixed commercial and residential purchases, such as flats over shops that escape the increase.

“Ultimately, with interest rates set to remain lower for longer, the Bank of England reducing banks’ capital requirements and changes in government imminent, the short-medium term outlook for the housing market could well remain positive after all.”

These finding by Reeds Rains follow other announcements forecasting that house prices in the London market are set to suffer more than any other part of the UK after the country’s vote to leave the EU.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

House prices went up in June

House prices went up in June

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.