UK house prices rise in June despite ‘wider economic uncertainty’ – business live

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UK house prices nudged up 0.2% in June compared with the month prior, according to new figures from the lender Lloyds.

Recent price trends continue to reflect wider economic uncertainty, including the impact of global events on inflation and interest rate expectations. While affordability remains stretched for many buyers, mortgage rates have eased from their recent highs, offering some encouragement to those considering a move.

While latest industry data shows the number of new mortgage approvals dropped in May, this wasn’t unexpected given the spike in rates seen earlier this year, and we’d expect to see activity recover assuming borrowing costs continue to fall.

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