Britain’s house prices increased by 2.5% in June

Britain’s house prices increased by 2.5% in June

House prices across the country have seen an increase of 2.5% over the last month, new research by an estate agent revealed.

Whilst house prices have seen a stable rise, they also are 0.6% below their value from 12 month ago, the study by estate agent Haart showed.

Hometrack report says London house prices will drop by 3% in 2017

Property across the capital saw an increase of 1.6% month-on-month, which also indicates a 1.1% yearly increase.

These news come at a time where talks of a crash in the country’s property market are becoming louder. And they are pointing the opposite way.

When it comes to the amount of available properties, levels increased by 14% in London and by 11% across the rest of the country. The report highlighted that this increase in availability has been a noticeable trend over the last couple of months, ever since the general election.

Paul Smith, CEo at Haart, commented on the findings:

“One of the key reasons that transactions are so far behind where they were last year is the government’s changes to the buy-to-let market, including the stamp duty surcharge, which has dampened the market significantly. This is particularly the case in London, which has seen buy-to-let landlords flee the market.”

As we are slowly moving further away from April 2016 – the month when the stamp duty changes kicked in and out an end to a buying frenzy from investors – figures should also return to normality again.

House prices have increased in June – and beaten analyst forecasts

According to Paul Smith “the fundamental issue in the market remains affordability, as pulling together the money for both a deposit and stamp [duty] continues to be a growing problem for aspiring home owners, and home movers.”

First-time buyer numbers have dropped by 46.3% over the last year, pushing more and more young hopefuls into rental property.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT