UK home costs dip in Could
British home costs fell by greater than anticipated in Could, new figures from mortgage lender Halifax confirmed on Friday.
Halifax stated home costs fell by 0.4% in Could, greater than reversing a 0.3% enhance in April. Economists had solely anticipated a fall of 0.1%.
In response to Halifax, the common property value was £296,648 final month, down from £297,798 in April.
On an annual foundation, home costs have been 2.5% increased on the 12 months – once more lower than anticipated.
Amanda Bryden, head of mortgages at Halifax, says the broader image is that the housing market that has remained largely secure in 2025, with common costs down by simply -0.2% because the begin of the 12 months.
Bryden provides:
The market seems to have absorbed the momentary surge in exercise over spring, which was pushed by the adjustments to stamp responsibility.
Affordability stays a problem, with home costs nonetheless excessive relative to incomes. Nonetheless, decrease mortgage charges and regular wage development have helped help purchaser confidence.
The outlook will rely upon the tempo of cuts to rates of interest, in addition to the energy of future revenue development and broader inflation traits. Regardless of ongoing strain on family funds and a stilluncertain financial backdrop, the housing market has proven resilience – a narrative we anticipate to proceed within the months forward.”
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Up to date at 03.37 EDT
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