HOUSE PRICES SEE BIGGEST ANNUAL FALL
Drop recorded in June is largest seen in the county since 2009
HOUSE prices in Buckinghamshire saw their biggest drop in nearly nine years in June.
Property price growth across the UK has been slowing since June 2016, and Bucks is one of the areas seeing prices dropping. In the year to June, house prices in Bucks fell by 0.5%, this was the biggest annual fall since October 2009, when the annual fall was 2%
The average house price in Bucks was £401,615 in June, compared to £403,619 a year before. Average house prices in the UK have increased by 3.0% in the year to June 2018 (down from 3.5% in May 2018).
This is its lowest annual rate since August 2013 when it was also 3.0%.
The annual growth rate has slowed since mid-2016 and has remained under 5%, with the exception of October 2017, throughout 2017 and into 2018.
This slowdown in UK house price growth over the past two years is driven mainly by a slowdown in the south and east of England.
The lowest annual growth was in London, where prices decreased by 0.7% over the year, down from negative 0.2%.
The average UK house price was £228,000 in June 2018. This is £6,000 higher than in June 2017 and £1,000 higher than last month.
On a seasonally adjusted basis, av- erage house prices in the UK were unchanged (0.0%) between May 2018 and June 2018, compared with an increase of 0.5% in average prices during the same period a year earlier (May 2017 and June 2017).
Across the UK, all houses showed an increase in average price in June 2018 when compared with the same month in the previous year.
Semi-detached houses showed the biggest increase, rising by 4.4% in the year to June 2018 to £216,000.
The average price of flats and maisonettes increased by 0.5% in the year to June 2018, to £204,000, the lowest annual growth of all property types.
Weaker growth in UK flats and maisonettes was driven by negative an- nual growth in London for this property type. London accounts for around 25% of all UK flats and maisonette sales.