Latest news with #AmandaBryden
Yahoo
07-07-2025
- Business
- Yahoo
Mapped: Latest house prices in your area after new data reveals average cost
House prices across the country have flattened out month-on-month in June following a small dip in May, an index has shown. Halifax recorded a zero per cent month-on-month change in average UK property values in June, following a 0.3 per cent fall in May. The bank said the housing market's resilience 'continues to stand out' following stamp duty changes that came into force from April when discounts on the charge became less generous for some home buyers. Amanda Bryden, head of mortgages at Halifax, said the UK housing market 'remained steady in June', with average house prices largely unchanged after a slight 0.3 per cent fall in May. At £296,665, the average property price is still about 2.5 per cent higher than it was a year ago, she said. 'The market's resilience continues to stand out,' Ms Bryden said, noting that mortgage approvals and property transactions had picked up again after a short dip in the wake of spring stamp duty changes. She said this was being driven by a few key factors, including rising wages easing affordability pressures and greater confidence among buyers as interest rates stabilise. 'Lenders have also responded to new regulatory guidance by taking a more flexible approach to affordability assessments,' she added. The map below shows the average house price across the UK in June: Ms Bryden added: 'With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year.' Sarah Coles, head of personal finance at Hargreaves Lansdown, said soaring house prices are 'pushing affordability to the limit'. While mortgage rates have come down, she noted they 'remain much higher than we have been used to in the previous few years' and are not falling particularly quickly. This is one reason why property sales are holding up better in parts of the country where house prices are typically lower, she said. 'Lenders have reacted to higher house prices by offering more flexibility over how much people can borrow,' Ms Coles added. She said that for first-time buyers: 'It's worth considering whether you can get any help building your deposit, whether that's through family and friends or the 25% boost from the Government through the Lifetime Isa.' Another recent report from Nationwide Building Society indicated that the average house price dipped by 0.8% month-on-month in June. Tom Bill, head of UK residential research at Knight Frank said: 'House prices may have held steady, but high supply and weak demand suggest this is not the start of a rebound.' He added: 'Supply is higher following the stamp duty cliff-edge in March and as more landlords sell, but consumer confidence remains weak after economic activity was pulled forward into the first quarter of the year. 'We expect modest single-digit house price growth in 2025 as rates come down in the second half of the year but asking prices need to reflect the fact it is very much a buyer's market.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Belfast Telegraph
07-07-2025
- Business
- Belfast Telegraph
Northern Ireland average house price soars by 10% year on year: Halifax
The year-on-year growth in price is the strongest across 12 regions, and brings the average house price here to £212,189. Scotland experienced the second-highest rate of growth at 4.9%, to an average of £214,891. However, Northern Ireland's house prices are the second-lowest of UK regions, with England's North East having the cheapest average house price at £175,679. Growth UK-wide flattened out month-on-month in June following a small monthly dip in May, according to the index from lender Halifax. It recorded a 0.0% month-on-month change in typical UK property values in June, following a 0.3% fall in May. It said the housing market's resilience 'continues to stand out' following stamp duty changes that came into force from April when discounts on the charge, which applies in England and Northern Ireland, became less generous for some home buyers. Amanda Bryden, head of mortgages at Halifax, said: 'The UK housing market remained steady in June, with the average property price effectively unchanged over the month, following a slight drop of 0.3% in May. 'At £296,665, the average house price is still around 2.5% higher than this time last year. 'The market's resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with more buyers returning to the market. 'That's being helped by a few key factors: wages are still rising, which is easing some of the pressure on affordability, and interest rates have stabilised in recent months, giving people more confidence to plan ahead. 'Lenders have also responded to new regulatory guidance by taking a more flexible approach to affordability assessments.' Ms Bryden said that over the past two months: 'We've already helped an additional 3,000 buyers – including more than 1,000 first-time buyers – access a mortgage they wouldn't have qualified for before.' She added: 'With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year.' Another recent report from Nationwide Building Society indicated that the average house price UK-wide dipped by 0.8% month-on-month in June. Karen Noye, a mortgage expert at wealth manager Quilter said: 'Today's house price index looks a little more positive than other indices already published which reported a fall in prices.' She added: 'With the summer holidays fast approaching, we could see a slowdown as trips abroad take precedence over moving home. 'The market is used to a dip in momentum during this time of the year but having already had a fairly slow start to 2025, we could see this lull push house prices down a little more. 'However, while we may not see activity pick up until nearer the autumn – by that time the stamp duty changes will have sunk in – buyers will have no choice but to adjust to the new norm if they wish to move home, and we could see the market pick up some pace as a result.' Here are average house prices and the annual increase, according to Halifax (regional annual change figures are based on the most recent three months of approved mortgage transaction data):
The Independent
07-07-2025
- Business
- The Independent
Mapped: Latest house prices in your area after new data reveals average cost
House prices across the country have flattened out month-on-month in June following a small dip in May, an index has shown. Halifax recorded a zero per cent month-on-month change in average UK property values in June, following a 0.3 per cent fall in May. The bank said the housing market 's resilience 'continues to stand out' following stamp duty changes that came into force from April when discounts on the charge became less generous for some home buyers. Amanda Bryden, head of mortgages at Halifax, said the UK housing market 'remained steady in June', with average house prices largely unchanged after a slight 0.3 per cent fall in May. At £296,665, the average property price is still about 2.5 per cent higher than it was a year ago, she said. 'The market's resilience continues to stand out,' Ms Bryden said, noting that mortgage approvals and property transactions had picked up again after a short dip in the wake of spring stamp duty changes. She said this was being driven by a few key factors, including rising wages easing affordability pressures and greater confidence among buyers as interest rates stabilise. 'Lenders have also responded to new regulatory guidance by taking a more flexible approach to affordability assessments,' she added. The map below shows the average house price across the UK in June: Ms Bryden added: 'With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year.' Sarah Coles, head of personal finance at Hargreaves Lansdown, said soaring house prices are 'pushing affordability to the limit'. While mortgage rates have come down, she noted they 'remain much higher than we have been used to in the previous few years' and are not falling particularly quickly. This is one reason why property sales are holding up better in parts of the country where house prices are typically lower, she said. 'Lenders have reacted to higher house prices by offering more flexibility over how much people can borrow,' Ms Coles added. She said that for first-time buyers: 'It's worth considering whether you can get any help building your deposit, whether that's through family and friends or the 25% boost from the Government through the Lifetime Isa.' Another recent report from Nationwide Building Society indicated that the average house price dipped by 0.8% month-on-month in June. Tom Bill, head of UK residential research at Knight Frank said: 'House prices may have held steady, but high supply and weak demand suggest this is not the start of a rebound.' He added: 'Supply is higher following the stamp duty cliff-edge in March and as more landlords sell, but consumer confidence remains weak after economic activity was pulled forward into the first quarter of the year. 'We expect modest single-digit house price growth in 2025 as rates come down in the second half of the year but asking prices need to reflect the fact it is very much a buyer's market.'
Yahoo
07-07-2025
- Business
- Yahoo
Housing market stalls amid jobs slowdown
House prices stalled last month as a slowdown in the jobs market and concerns about the economy knocked confidence, an industry survey showed. The value of a typical home was unchanged in June compared to May, according to the Halifax house price index. Prices have only risen in two of the past seven months, according to the survey, which showed property values fell 0.3pc between April and May. Average house prices stood at £296,665, which was up 2.5pc compared to the same time last year – and also a slight slowdown from May. Halifax head of mortgages Amanda Bryden said: 'Affordability is still stretched, particularly for those coming to the end of fixed-rate deals. 'The economic backdrop also remains uncertain; while inflation has eased, it's still above target, and there are signs the job market may be softening.' Official statistics last month showed Britain's unemployment rate rose to a four-year high of 4.6pc in the three months to April, while the number of people on payrolls fell by 55,000 between March and April. Bank of England governor Andrew Bailey warned last month that there are signs Rachel Reeves's £25bn National Insurance raid is hitting jobs and pay. Ashley Webb of Capital Economics said: 'So, the big picture is that the housing market remains weak and it still struggling to regain momentum from the stamp duty-induced lull and the recent deterioration in the labour market.' Separate data from Nationwide showed house prices fell at the fastest pace since February 2023 in June. It said the value of the average home fell 0.8pc to £271,619, which was well below analyst estimates for a 0.1pc increase in prices. Thanks for following our coverage of the latest house prices index data, which showed the property market stalled in June. Follow the latest business and property news here. Housebuilding stocks climbed despite the Halifax data showing the property market stalling between May and June. Developers gained 0.3pc across the FTSE 100 and FTSE 250. Vistry was the best performer, rising by 1pc. Persimmon was the weakest housebuilder, falling 0.3pc. Northern Ireland has by far the strongest annual house price growth in the UK, according to Halifax. Prices rose by 9.6pc over the past year to an average of £212,189. Scotland recorded the next strongest annual house price growth in June, increasing by 4.9pc to £214,891, while Wales rose 3.9pc to £229,622. Among English regions the North West has the highest rate of property price inflation, up 4.4pc over the last year to £241,938. The South West and London had the weakest growth, up 0.5pc and 0.6pc, respectively. However, London remains by far the most expensive part of the UK, according to Halifax with the average home now priced at £540,048. Nathan Emerson, chief executive of estate agent body Propertymark, said the drop in house prices showed 'the UK housing market has faced considerable upheaval in response to a turbulent global economy and stamp duty thresholds'. He added: 'However, the UK Government is expressing a lot of positive noises to boost England's housing supply and increase confidence in the housing market in general. 'These include creating a National Housing Bank to invest in building 500,000 new homes, and the speed at which the Planning and Infrastructure Bill has progressed through Parliament so far, all of which should have long-term benefits, alongside the devolved administrations meeting their own housing targets.' House prices will grow in the second half of the year as the Bank of England cuts interest rates, Halifax said. Money markets indicate the Bank of England will cut interest rates two more times before the end of the year. Policymakers left interest rates on hold at 4.25pc in June, with inflation well above the Bank's 2pc target at 3.4pc. Halifax head of mortgages Amanda Bryden said: 'With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year.' Matt Thompson, head of sales at estate agency Chestertons, says: 'Property buyers were hoping for another interest rate cut last month but higher-than-expected inflation diminished those odds.' 'On a national level, some house hunters opted to pause their search or change their search criteria to find a home within their budget.' Halifax said lenders were 'taking a more flexible approach to affordability assessments' as they attract more first-time buyers. It said it had helped more than 1,000 first-time buyer numbers get on the property ladder over the last two months. They were part of an extra 3,000 buyers who were able to 'access a mortgage they wouldn't have qualified for before' under new regulatory guidance. Changes to Bank of England guidance in March meant lenders relaxed their stress tests. The Government and regulators, including the Financial Conduct Authority (FCA), have been calling for lenders to relax their rules. Katy Eatenton of Lifetime Wealth Management, said: 'The Halifax are spot on in highlighting the increased flexibility lenders as a whole are taking when it comes to affordability. 'This has without doubt softened the lull in activity following the stamp duty deadline.' Babek Ismayil of home-buying platform OneDome, added: 'Affordability remains an issue for many prospective homeowners so it's no surprise to see the Halifax singling it out once again. 'Lenders have been really innovating in recent months in an effort to solve the ever-present obstacle of affordability and while progress has been made it's still a huge hurdle for first-time buyers.' House prices were flat between May and June as the property market struggled to regain momentum from the rise in stamp duty, economists have said. Capital Economics said the Halifax data 'chimes with the recent weakness' in figures from rival lender Nationwide, where annual price growth fell to an 11-month low in June. UK economist Ashley Webb said: 'So, the big picture is that the housing market remains weak and it still struggling to regain momentum from the stamp duty-induced lull and the recent deterioration in the labour market.' He added that its latest forecast for the Bank of England to lower interest rates from 4.25pc now to 3pc next year 'suggests that lower mortgage rates may boost house prices by more than we expect in 2026'. Estate agents were trying to put a positive spin on the flat housing market growth between May and June. Foxtons chief executive Guy Gittins said: 'Despite house price growth remaining flat on a month to month basis, today's Halifax figures continue to illustrate the strength in the market with the longer term view of market health showing house prices remain higher on an annual basis. 'We've already seen a heightened degree of activity over the first six months of the year and, as we head into the second half of the year, our expectation is that market activity will continue to strengthen.' Verona Frankish, chief exective of Yopa, said: 'The latest house price data from Halifax paints a picture of a market that is stabilising, not slowing. 'The fact that prices remained flat rather than falling in June suggests that buyer sentiment is improving and many are adjusting to current borrowing conditions and new stamp duty thresholds. She added: 'With the summer traditionally being a busy season, we're optimistic that transaction levels will pick up further, especially if mortgage rates become more competitive.' Thanks for joining me. House prices were unchanged between May and June amid an uncertain economic backdrop, Halifax has said. Here is what you need to know. 1. US trade deal makes Britain top investment destination in the world - Finance chiefs are more willing to bet on the UK as appetite for expansion increases 2. Reeves pours millions into Peak District carbon capture scheme - Chancellor's National Wealth Fund backs plan to store cement and lime factory emissions underground 3. Europe needs a 'reality check' on net zero, says airline boss - IndiGo chief Pieter Elbers says economic progress must not be sacrificed for sustainability 4. Trump's tariff threats trigger air freight scramble to beat impending deadline - Scramble to beat July 9 deadline pushes up cost of transporting goods by 11pc 5. Hundreds of staff unpaid after £1bn AI start-up goes bust - Workers unable to claim redundancy payments since tech company declared bankruptcy in May Stock markets mostly slipped in Asia as the deadline for US tariffs loomed on countries around the world. The United States is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates to take effect on August 1. 'President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level,' US treasury secretary Scott Bessent told CNN. Mr Trump in April announced a 10pc base tariff rate on most countries and higher 'reciprocal' rates ranging up to 50pc, with an original deadline of this Wednesday. However, Trump also said levies could range in value from 'maybe 60pc or 70pc', and threatened an extra 10pc on countries aligning themselves with the 'Anti-American policies' of the Brics group of Brazil, Russia, India and China. With very few actual trade deals done, analysts had always suspected the date would be pushed out, though it was still not clear if the new deadline applied to all trading partners or just some. Japan's Nikkei lost 0.6pc, while South Korean stocks rose 0.4pc. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.6pc, as Chinese blue chips dropped 0.5pc. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
New Straits Times
07-07-2025
- Business
- New Straits Times
UK house prices stagnated in June, Halifax data shows
KUALA LUMPUR: British house prices stagnated month-on-month during June, as economists polled by Reuters had expected, figures from Halifax showed on Monday. The mortgage lender revised up May's reading to show a 0.3 per cent drop rather than a 0.4 per cent drop. The data underlined the subdued state of Britain's housing market following an increase in tax on property transactions that took effect in April. House prices on Halifax's measure are now down slightly compared with their level at the end of last year. Amanda Bryden, Halifax's head of mortgages, said the housing market still showed resilience, helped by rising wages. "With markets pricing in two more rate cuts from the Bank of England by year end, and the average rate on newly drawn mortgages now at its lowest since 2023, we continue to expect modest house price growth in the second half of the year," Bryden added. Halifax said house prices were 2.5 per cent higher on the year during June, down slightly from May's reading of 2.6 per cent.
