House price growth bucks recent trends

House prices across the UK rose by 0.7 per cent last month in a departure from recent reports of a market slowdown, it has been revealed.

The Financial Times house price index, produced by the Acadametrics consultancy firm, showed that growth was 0.2 per cent up on May's increase of 0.5 per cent, with an annual price increase of nine per cent up from 8.7 per cent in May.

The average price of a home in England and Wales now stands at £222,222, the study found.

"This modest upward movement runs slightly against the pattern of stability which we have been reporting for some months. It remains to be seen if this represents a change in the longer term trend," advised Acadametrics chairman Dr Peter Williams.

"With the Nationwide index showing an increase of 1.1 per cent in June and Halifax 0.4 per cent, there is a degree of confusion as to what is really happening in the market – although both organisations are showing an increase on the level of growth reported in May," Dr Williams added.

Earlier this week the Royal Institution of Chartered Surveyors reported that June saw the slowest pace of price growth since January 2006.


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