Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleBritish home asking prices experienced a 0.6 per cent decline in June, equating to a £2,113 reduction, marking the largest June drop in 14 years, according to Rightmove. This month-on-month fall brought the average asking price across the country to £376,191, with Rightmove suggesting higher mortgage rates and an increased supply of homes are weighing on activity. Rightmove noted that more affordable regions of Britain, such as the North East of England and Scotland, are demonstrating relative stability in prices compared to the same period last year. Separately, property firm Hamptons reported that the average price of a newly agreed let in Britain rose by 1.1 per cent over the year to May, reaching £1,382 per month. The South East of England saw its average new let rent reach £1,500 per month in May, the first time any region outside London has hit this figure. In fullExperts explain why June saw an ‘unusual’ house price fallThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Why did UK average house prices fall in June?
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleBritish home asking prices experienced a 0.6 per cent decline in June, equating to a £2,113 reduction, marking the largest June drop in 14 years, according to Rightmove. This month-on-month fall brought the average asking price across the country to £376,191, with Rightmove suggesting higher mortgage rates and an increased supply of homes are weighing on activity. Rightmove noted that more affordable regions of Britain, such as the North East of England and Scotland, are demonstrating relative stability in prices compared to the same period last year. Separately, property firm Hamptons reported that the average price of a newly agreed let in Britain rose by 1.1 per cent over the year to May, reaching £1,382 per month. The South East of England saw its average new let rent reach £1,500 per month in May, the first time any region outside London has hit this figure. In fullExperts explain why June saw an ‘unusual’ house price fallThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
