The Hometrack UK House Price Index analyses housing market trends at a city level on a monthly basis – across 20 cities, plus regions, and nationally.
Executive summary
- Higher mortgage rates and political uncertainty have shrunk the pool of home buyers – sales agreed are 7% lower in June
- House price inflation has edged lower to 1.4%
- Mortgage rates peaked at 5% in April having started the year at 4% and are now falling. The cash cost for buyers varies widely
- Mortgage costs are £244 a month higher in London but just £69 in the North East since January
- Sales are down in across areas and house price inflation varies from 3.5% in northern England to small price galls in the south
- We expect price inflation to drift lower in H2, while sales agreed are on track to be 6-8% lower than last year at 1.1m completions
You can download the latest full report from the Hometrack website.