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last mo.

UK House Price Growth Quickens to 3.7% in June, Rent Inflation Eases Further

Cooling borrowing costs alongside fading stamp duty disruption underpin a steadier market tone.

A view of the Canary Wharf financial district and residential houses in London, Britain, January 23, 2025. REUTERS/Hannah McKay/ File Photo
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Overview

  • The ONS reported annual house price growth of 3.7% in June to an average £269,000, up from 2.7% in May.
  • Private rents rose 5.9% year on year in July to an average £1,343, marking a seventh consecutive monthly slowdown.
  • Regional house prices in the 12 months to June reached £291,000 in England (3.3%), £210,000 in Wales (2.6%), and £192,000 in Scotland (5.9%).
  • The Bank of England base rate was cut to 4% earlier in August, and estate agents reported steady summer activity with improving buyer sentiment heading into autumn.
  • Pantheon Macroeconomics said prices are recovering from the March stamp duty threshold change, while cautioning that monthly readings can be volatile.