Steady Growth in UK House Prices

According to the latest Halifax's House Price Index report, the United Kingdom witnessed a 2.5% annual increase in house prices this June, bringing the average house price to £296,665.

Market Stability and Trends

On a monthly basis, house prices remained stable, showing no change. However, the second quarter saw a slight decline of 0.3% compared to the previous three months.

Expert Insights

Amanda Bryden, head of mortgages at Halifax, highlighted the market's resilience, noting a rebound in mortgage approvals and property transactions. "The market's resilience continues to stand out," Bryden remarked, pointing to an increasing number of buyers returning to the market following a temporary slowdown after the spring stamp duty changes.