Homes prices are increasing at the fastest pace since 2004, according to the Halifax House Price Index…(Halifax)
- Y-O-Y: Home prices across the U.K. hit an annual growth rate of 13%, this is the highest level since late 2004.
- M-O-M: Homes prices were up 1.8% in June, this is the twelfth consecutive monthly rise.
Russell Galley, Managing Director of Halifax, said June’s housing report defied expectations and debate about a slowdown…
- “The UK housing market defied any expectations of a slowdown, with average property prices up 1.8% in June, the biggest monthly rise since early 2007. This means house prices have now risen every month over the last year, and are up by 6.8% or £18,849 in cash terms so far in 2022, pushing the typical UK house price to another record high of £294,845.”
Regionally, Northern Ireland once again took the top spot with 15.2% year-over-year growth which equated to an average property price of £187,833. Wales was number two with 14.3% growth followed by the South West which was up 14.2% in June.
