According to the Halifax House Price Index, UK house prices in the three months to June were 8.4% higher than in the same three months of 2015.House prices in the last three months (April-June) were 1.2% higher than in the preceding three months.
House prices increased by 1.3% between May and June. This followed a 0.9% rise in May. The month-on-month changes can be erratic and the quarter on quarter change is a more reliable indicator of the underlying trend.
Martin Ellis, Halifax housing economist, said:
“There is evidence that the underlying pace of house growth may be easing. House prices in the three months to June were 1.2% higher than in the previous quarter; down from 1.5% in May. The annual rate of growth fell from 9.2% in May to 8.4%; the lowest since July 2015.
“House prices continue to increase, albeit at a slower rate, but this precedes the EU referendum result, therefore it is far too early to determine any impact since.”