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City of London

UK House Prices Continue to Defy Slowdown Fears, Halifax Says

  • Prices rose 1.8% in June, biggest monthly gain since 2007
  • Wealthier households more immune to inflation, lender says
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UK house prices continued to shrug off fears of an economic downturn and the cost of living crisis, posting the biggest monthly rise since early 2007 in June, according to Halifax.

A shortage of properties coming on to the market combined with continuing strong demand saw prices rise 1.8% from May, a 12th consecutive monthly increase, the mortgage lender said in a report Thursday.