Thursday, July 7, 2016
Brexit not fully factored in, but will a weak pound attract more buyers?
Property hits levels of unaffordability not seen since before the financial crisis as house prices rise by almost 3k in June
UK house prices continued to rise in June, adding almost 3,000 GBP in a month, stretching affordability to levels not seen since the run-up to the financial crisis in 2007, a new survey suggests. Halifax said it was too early to say how the referendum that sanctioned the UK's decision to leave the EU will impact the housing market, but added there were signs the pace of growth is easing. The price of the average home in the UK rose by 1.3 per cent between May and June, or by 2,708 GBP to hit 216,823 GBP, up from 0.6 per cent the previous month, according to the latest index by the mortgage lender.