(Alliance News) - House prices in the UK edged higher both on-month and annually in June, according to figures from Nationwide on Monday.
The Nationwide house price index showed a 0.2% increase in seasonally adjusted UK house prices in June, following a 0.4% jump a month earlier.
In June, the average UK house price stood at GBP266,604, compared to GBP264,249 in May.
Annually, the house price index rose by 1.5%, picking up speed from 1.3% in May.
"Housing market activity has been broadly flat over the last year, with the total number of transactions down by around 15% compared with 2019 levels. Transactions involving a mortgage are down even more (nearly 25%), reflecting the impact of higher borrowing costs. By contrast, the volume of cash transactions is actually around 5% above pre-pandemic levels," said Robert Gardner, Nationwide's chief economist.
By Sophie Rose, Alliance News senior reporter
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