LONDON (MNI) – UK housing market activity picked up sharply in June
while prices fell 0.5% on the month, according to the LSL Property
Services/Acadametrics House Price Index.
The survey found housing market transactions were up 20% in June,
rising to 63,500, which was still below the series long run average. The
report said sellers were “finally coming to terms with buyer demand for
greater price discounts”.
House prices in June were up 7.7% on a year ago, down from up 9.1%
in May.
The Acadametrics data follow the publication Thursday of Halifax’s
House Price Index, which showed house price fell 0.6% on the month in
June. The evidence is mounting that the rebound in UK house prices is
faltering, with Halifax predicting house prices are likely to end this
year little changed.
“We can’t discount further house prices falls over the next few
months, as the market continues to stabilise and normalise,” David
Brown, commercial director of LSL Property Services, said.
–London newsroom: 4420 7862 7492; email: drobinson@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$,MT$$$$]
