Slowest Growth in the UK Housing Market in Five Years

Author: Alison Gourley
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UK house price growth in June slowed to its lowest since August 2013. According to the Office for National Statistics (ONS) this slowdown was mainly affected by the falling prices in London where properties dropped from 0.7% to negative 0.2%.The report shows an average house price growth of 3% down from 3.5% in May- the lowest annual rate in five years.

In June 2018 the UK average house price was £228,000-£6000 more than in June 2017. Across the UK all properties showed an increase in average price in June 2018 when compared with the same month in the previous year.

  • Semi- detached houses had the biggest increase, rising by 4.4% in the year June 2018 to £216,000
  • The average price of flats and maisonettes increased by 0.5% in the year to June 2018 to £204,000 the lowest annual growth of all property types.

The main contribution to the increase in UK house prices came from England, where house prices increased by 2.7% over the year to June 2018, with the average price in England now £245,000. Wales saw house prices increase by 4.3% over the last 12 months to stand at £157,000. In Scotland, the average price increased by 4.8% over the year to stand at £150,000.

Please contact Alison Gourley to discuss any specific property matters on 0141 552 3422 or by email ajg@mitchells-roberton.co.uk

About Alison Gourley

Alison graduated from Edinburgh University School of Law in 1991. She joined Mitchells Roberton in 1996 and became an Associate thereafter. Alison specialises in both commercial and residential conveyancing, advising individuals, large and small businesses, banks, charities and further education institutions on all property transactions. Having 20 years experience in property law Alison has developed excellent relationships with surveyors, independent financial advisers and banks so is ready to act swiftly and effectively to meet her clients’ needs in an ever changing property market. She enjoys getting to know her clients and is committed to giving them an efficient service and is always friendly and approachable. She is also involved with the marketing aspects of the firm. Alison is a residential conveyancing tutor in the paralegal course offered by Central Law Training through the University of Strathclyde. Alison is married to a photographer and has one child. In her free moments she likes to keep fit. She is a talented amateur artist and loves nature and the great outdoors. Email: ajg@mitchells-roberton.co.uk

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