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UK annual house price growth slows in June

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UK annual house price growth slows in June

U.K. house prices in the three months to June rose an annual 1.8%, compared with a year-over-year growth of 1.9% in the three months to May, mortgage lender Halifax said.

On a monthly basis, prices were up 0.3% in June following a 1.7% increase in the prior month. The standardized average house price increased to £225,654 from £224,909.

"At the half way stage of the year the annual rate is within our forecast range of 0-3% for 2018. We continue to see very positive factors of continuing low mortgage rates, great affordability levels and a robust labor market," said Russell Galley, managing director at Halifax, adding that the continuing shortage of properties for sale should support price growth.