UK house prices up slightly in June, figures show

Tuesday, 16 August 2011 01:08

UK house prices increased slightly in June but decreased over the last year, new figures have shown.

According to the latest House Price Index report from the Department for Communities and Local Government, prices were up by 0.6 per cent in June compared with May.

However, they were two per cent lower than in the same period last year, with the average UK home now valued at £204,981.

Over the last 12 months, prices fell in all UK countries, but London bucked the trend with a year-on-year rise of 1.5 per cent.

Northern Ireland saw the sharpest decrease, with prices dipping by 8.1 per cent, followed by Wales with 5.6 per cent, Scotland at 2.3 per cent and England's 1.8 per cent.

The report comes after data from Halifax showed the average cost of a property in the UK rose 0.3 per cent in July.

Martin Ellis, a housing economist at the building society, said the numbers showed the market returning to stability following a steady decline last year.

Meanwhile, recent research from property website Rightmove showed the average asking price dropped 2.1 per cent to £231,543 in August, following a fall of 1.6 per cent in July.

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