Economic Buzz: UK House Price Inflation At 6-Month Low

30 Jun 2022 , 02:37 PM

UK house price inflation eased more than expected to a six-month low in June, but remained strong overall reflecting the improvement in the labor market, survey results from the Nationwide Building Society showed. The house price index logged a double-digit growth of 10.7 percent year-over-year in June, slightly slower than an 11.2 percent rise in May. On a monthly basis, house prices moved up 0.3 percent in June, following a 0.9 percent rise in the previous month. The average price for a UK home rose to a new record high of GBP 271,613 in June, with average prices increasing by over GBP 26,000 in the past year.Powered by Commodity Insights