House prices rise in June across UK

Yorkshire Post - Property - - PROPERTY -

UK house prices rose one per cent last month, ac­cord­ing to Hal­i­fax. How­ever, prices are down 0.5 per cent com­pared to June last year.

The av­er­age UK house price now stands at £162,417 and typ­i­cal mort­gage pay­ments for a new bor­rower are around 26 per cent of dis­pos­able earn­ings, sig­nif­i­cantly be­low the 36 per cent av­er­age over the past 27 years

Martin El­lis, hous­ing econ­o­mist at the bank, said: “In May 2011, house prices were fall­ing at an an­nual rate of 4.2 per cent. In con­trast, there has been broad sta­bil­ity re­cently. Con­tin­u­ing low lev­els of mort­gage pay­ments rel­a­tive to in­come and re­cent in­creases in em­ploy­ment may have helped sup­port house prices so far this year.”

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