May house prices were low, yet house prices have bounced back this month, so states the Nationwide Building Society .
June saw the average UK house price go up 1.1%, to 11.1% higher than June 2006 .
This is evidently the biggest monthly increase since December 2006 and the greatest year on year growth figure since January 2005.
Presently, the average UK house costs £184,070.
June’s downpours have dampened the first few days at Wimbledon . Yet the zeal of the housing market has taken off again as house price inflation bounced back in May.
However, this upturn may be short lived. Despite June’s upturn, the house price growth trend is softening.
There is likely to be a 5% to 8% growth in UK house prices during 2007.
Of course there will be differences in house price growth across the country. London as usual is going to lead English regions. Housing demand in London reflects strong local economic conditions and preferences of wealthy overseas investors.
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June House Prices Rise Again
Thu, 28 Jun 2007
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