Housing prices rose for the second straight month in June, adding £745 on average property, but the market is still flat, according to Halifax.
The mortgage lender said that the increase of 0.3% in June was not enough to stop growth in housing prices fall for third month in a row. It is 1.8%, which is comparable to approximately 4% last fall.
In London the growth in property prices at nine-year low amid Edinburgh and Manchester spurt
The new figures follow a period of seemingly unstable and contradictory data in property prices, although in this case, the data of Halifax as a whole in accordance with its main competitor. Building society nationwide said that prices rose in June by 0.5%, and the annual price increase was 2%, the lowest rate in five years.
Russell galley, managing Director of Halifax said property values were broadly flat, given the relatively low level of activity in the market. However, he added: “we continue to see very positive factors in maintaining low mortgage rates, a wide availability and reliable in the labour market. The continued shortage of properties for sale should continue to support higher prices.”
Halifax is sticking with his forecast that prices will rise to 3% this year. This puts the current average price of £225,654, which is £2,400 in March.
The first months of this year was marked by volatility. In the opinion of the lender prices in the UK jumped by 1.6% in March, declined in April by 3.1%, which is the sharpest monthly decline since 2010, and then increased by 1.7% in may.
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Commenting on these figures, Jeremy leaf, a North London, agent and former residential of the President of the Royal Institute of chartered surveyors, said: “once again we are seeing in the market in a dimmed mode is supported in General for some time due to low interest rates and unemployment, and more specifically on competitive promotions.”
He added that on earth “we have reached the limit of what many buyers can afford, so it’s not a correction, rather a price adjustment to reflect changes in circumstances.”
Jonathan Hopper, managing Director of Garrington property finders, said at the national level “housing prices are stuck in an awkward, shuffling dance – occasionally taking one step forward and two steps back”.