HOUSE PRICES SEE BIG­GEST AN­NUAL FALL

Drop recorded in June is largest seen in the county since 2009

Buckinghamshire Advertiser - - FRONT PAGE - by CLAIRE MILLER claire.miller@reach­plc.com

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.

PHOTO: GETTY IMAGES

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