House prices up slightly in June
House prices rose slightly across the UK last month, according to the latest survey from the Halifax .It says prices rose by 0.4% in June, pushing up the annual rate of house price inflation from 10.6% to 10.7%, with the average house now costing £197,461.
Although prices are still going up, the recent pace of growth has been slowing down.
The Halifax suggests that the latest string in interest rate rises will help to slow this increase further in the coming months. "House prices increased by 0.4% in June, marking the second successive monthly rise of less than 0.5%," said the Halifax's chief economist Martin Ellis.
House price inflation is different across different parts of the country. For instance, in Northern Ireland prices are still shooting up, rising by 8.5% in the past three months alone. London prices are still rising sharply, up by 4.9% in the same period.
But the Halifax suggests that prices have actually fallen slightly in the past three months in the South West, West Midlands and also Wales, where they have gone down by nearly 3%.
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