Overview
- Halifax reports average UK house prices held steady in June at £296,665, marking a 2.5% increase year-on-year.
- Nationwide data shows a 0.8% month-on-month price drop to £271,619 in June, the fastest decline since February 2023.
- Official figures place unemployment at 4.6% and payroll numbers down by 55,000, indicating weakening labour market conditions.
- Halifax head of mortgages Amanda Bryden warns that high mortgage costs continue to stretch household affordability.
- Halifax has approved mortgages for an additional 3,000 buyers using more flexible affordability assessments, including over 1,000 first-time purchasers.