FTSE 100 Live: Index seen lower, house prices hold steady https://t.co/UmqsL5rgxB https://t.co/GkBJb20jjt
UK first-time home buyers in June returned to levels seen before the stamp duty change, Halifax says https://t.co/7YgR2Uqpin
UK house prices stagnated in June, Halifax data shows https://t.co/wzYgE9elSe https://t.co/wzYgE9elSe
UK house-price growth lost momentum in June, according to two of the country’s largest mortgage lenders. Halifax said on Monday that average property values were unchanged from May, matching economists’ expectations after a revised 0.3% decline the previous month. Prices were 2.5% higher than a year earlier, the same annual pace recorded in May. Earlier in the month, data from Nationwide Building Society showed a sharper 0.8% fall in June prices, leaving annual growth at 2.1%, down from 3.5% in May and below the 3.1% consensus. Taken together, the releases point to a cooling market after a brief rebound in the spring, when lower mortgage rates and rising wages had encouraged more buyers to return. Economists said the latest figures reinforce expectations that higher borrowing costs and still-elevated affordability pressures will keep a lid on price gains through the second half of the year. Financial markets were little moved by the data, though UK equity futures signalled a softer open amid wider concerns about global trade tensions.