Your Move has reported that average prices in England and Wales were slightly down in June, falling by 0.2% from May, although this is a smaller decline than March or April.
On an annual basis, however, prices edged up, bringing to an end a slowdown in annual price growth that began in the middle of last year.
Prices are up 2.1% on an annual basis, rising from 1.8% in May. That makes the average house in England and Wales in June worth £303,960 – up more than £6,000 on last June.
Annual price growth in the capital has started to accelerate over the last month and without London and the South East, growth would have been a little lower – just 2.0%.
While Greater London is the only region to have seen growth accelerate, both the North East and West Midlands are growing more strongly. Furthermore, all regions continue to record annual growth.
Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “Two key factors could give rise to cautious optimism this month. The overall month on month decline has slowed to its lowest since February and in London there was modest house price growth for the first time since January.”
