–UK June House Prices Unchanged m/m: Down 2.5% y/y: Land Registry
LONDON (MNI) – House prices in England and Wales in June were flat
on the month and down 2.5% on the year, with the yearly rate showing a
continuation of the trend of modest deflation in the UK housing market.
The Land Registry House Price Index, which unlike the mortgage
lenders’ surveys includes cash purchases, showed the UK housing market
continuing to see low levels of activity and a drift sideways in monthly
price moves.
“The June data reveals a static market with no monthly house price
change,” Land Registry said.
The 2.5% fall on the year was the largest since October 2009 and
was the sixth consecutive yearly decline in the Land Registry’s monthly
data series.
Land Registry said the number of property transactions has fallen
over the past year, but its transaction data do lag substantially.
In the latest period it publishes figures for, January to April
this year, it said there were 42,733 sales per month compared with
45,509 in the same period a year ago, a 6.1% decrease.
–London newsroom: 4420 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,MABDS$]
