-UK June House Prices -0.1% m/m; -3.9% y/y – Hometrack
LONDON (MNI) – UK house prices fell by just 0.1% in June while
there was evidence of housing market activity picking up, according to
the latest Hometrack report.
The survey found June house prices down 3.9% on the year, having
been down 3.7% in May. The number of properties on estate agents’ books
rose by 3.5%, following a 3.0% rise in May. The number of buyers
registering with agents rose 1.9% after May 0.5% fall.
The strongest evidence of increased housing market activity came
with the number of sales agreed rising 10.7% on the month, after a rise
of just 1.6% in May.
The absence of bank holidays in June and the cooler weather may
have boosted turnover, and Hometrack’s report was skeptical the
increased activity would be maintained.
“The number of applicants registering with agents grew by just 1.9%
in June, and while an improvement on the -0.5% fall in May, it is
unlikely that there will be any material increase in demand over the
summer,” Richard Donnell, Director of Research at Hometrack, said.
The Hometrack survey is based on estate agents (realtors) and the
selling prices they believe are attainable, rather than actual prices
achieved.
–London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
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