- UK house prices remained flat in June, showing no month-on-month change according to Halifax, after a 0.3 per cent fall in May.
- The average UK property price is currently £296,665, a 2.5 per cent increase compared to a year ago.
- Halifax attributes the market's resilience to factors including rising wages, easing affordability pressures and greater confidence among buyers as interest rates stabilise.
- However, experts like Sarah Coles from Hargreaves Lansdown caution that high house prices are pushing affordability to its limit, despite some mortgage rate reductions.
- Tom Bill, head of UK residential research at Knight Frank, suggests that despite steady prices, high supply and weak demand indicate it is a buyer's market, with modest single-digit growth anticipated in 2025.
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