Hometrack Housing Survey shows house price growth has halved in the last quarter

This month’s Hometrack National House Price Survey reveals:

  • House prices increased 0.3% in June –  the lowest level since January 2014 (0.3%), which represents a halving in the rate of growth in the last quarter
  • There was no growth in new housing demand in June which marks a major turnaround from the trend over last 18 months.
  • The proportion of the asking price achieved falls for the first time in four months as agents find it harder to sustain price rises
  • The coverage of postcode districts with price increases over the month has continued to decline from 50% in April to 32% in June.
  • London has seen the lowest coverage of price rises for 16 months – half the level of the second half of 2013, with the average time on the market also rising as sales take longer to achieve in the face of weaker demand
  • The time on the market averages 5.9 weeks, which is a decrease on April 2014 (6.3 weeks) and May (6.5 weeks). The measure has been rising in London for the last two months.

View and download full Survey results

 

 

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