Latest news with #Bryden
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):
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.
Metro
07-06-2025
- Business
- Metro
This is how much the average UK house price fell by in May
UK house prices have fallen by around £1,150 in May, despite property values increasing by more than £7,000 in 2024. Halifax found that May's month-on-month price fall followed a 0.3% increase in April, following a slower growth in house prices in the past two months. Halifax's latest report contrasts with the findings from Nationwide Building Society's latest house price index, released on Monday this week. Nationwide said that property values had increased by 0.5% month-on-month in May, following a 0.6% fall in April. Amanda Bryden, head of mortgages at Halifax, said: 'Over the past 12 months, prices have grown by 2.5%, adding just over £7,000 to the value of a typical home, which now stands at £296,648. 'These small monthly movements point to a housing market that has remained largely stable, with average prices down by just 0.2% since the start of the year.' Ms Bryden added that the affordability of homes remains a challenge, as house prices are still high compared to incomes. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 'Despite ongoing pressure on household finances and a still uncertain economic backdrop, the housing market has shown resilience – a story we expect to continue in the months ahead,' she said. Iain McKenzie, chief executive of the Guild of Property Professionals, said: 'The key fundamentals supporting home buyers remain strong – low unemployment, rising real earnings, and the continued anticipation of easing borrowing costs in the medium-term.' The head of sales at estate agent Chestersons, Matt Thompson, pointed out that some home buyers paused their search in April, but quickly resumed in May. More Trending 'Buyer motivation was then boosted further by the Bank of England's decision to cut interest rates to 4.25%. We expect a busier-than-usual summer market,' he said. Halifax pointed out that house price growth across Northern Ireland, Wales and Scotland has been outpacing regions in England. In London, house prices have increased by just 1.2% year-on-year, the report said. View More » But Halifax said that London remains the most expensive part of the UK housing market, with the average home priced at £542,017. East Midlands, £244,754, 2.8% Eastern England, £334,720, 1.6% London, £542,017, 1.2% North East, £175,174, 2.0% North West, £240,823, 3.7% Northern Ireland, £209,388, 8.6% Scotland, £214,864, 4.8% South East, £391,253, 1.8% South West, £304,519, 1.1% Wales, £230,405, 4.8% West Midlands, £260,118, 3.0% Yorkshire and the Humber, £213,983, 3.7% Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: New solar panels 'could cut people's bills by £530 per year' MORE: Cost of comfortable retirement revealed — here's how much you need yearly MORE: Octopus Energy gives away free energy for three hours today – here's how to claim Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Yahoo
06-06-2025
- Business
- Yahoo
Average UK house price falls £1,150 in May
Average UK house prices dipped 0.4% in May, representing a fall of nearly £1,150, after changes to stamp duty came into effect, according to the latest data from Halifax. The average UK property is now valued at £296,648, down from £297,781 in April, when house prices rose for the first time this year. On an annual basis, prices rose to 2.5% – adding just over £7,000 to the value of a typical home – though this was down from 3.2% in April. Amanda Bryden, head of mortgages at Halifax, said: 'These small monthly movements point to a housing market that has remained largely stable, with average prices down by just -0.2% since the start of the year. The market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty." "Affordability remains a challenge, with house prices still high relative to incomes," she added. "However, lower mortgage rates and steady wage growth have helped support buyer confidence." "The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends," Bryden said. "Despite ongoing pressure on household finances and a still uncertain economic backdrop, the housing market has shown resilience – a story we expect to continue in the months ahead." Halifax data showed that house price growth across Northern Ireland, Wales and Scotland continued to outpace English regions. Northern Ireland once again recorded the fastest pace of annual property price inflation, up by 8.6% over the past year, with the typical home now costing £209,388, though this was still well below the UK average. Read more: Mortgage lenders raise rates amid uncertainty over BoE interest rate cuts In England, North West and Yorkshire and the Humber saw the fastest annual house price growth of 3.7%, with the average property in these areas now costing £240,823 and £213,983 respectively. London continued to see more subdued growth, with prices up just 1.2% year-on-year, though the capital remained by far the most expensive part of the UK housing market, with the average home costing £542,017. Professor Joe Nellis, economic adviser at MHA, the accountancy and advisory firm and one of the creators of the Halifax House Price Index, said that price "growth is set to continue as huge demand for houses persists in the UK. This is something that the government has recognised, setting an ambitious target to build 1.5 million new homes by 2029, but recent estimates suggest that this is looking overly optimistic." "One thing to consider over the next year is the Renters' Rights Bill introduced to parliament by Angela Rayner in her role as secretary of state for housing," he said. "Expected to pass in the autumn, this bill will provide greater protection for tenants and impose new restrictions on landlords, including ending 'no fault' evictions." "These new restrictions could disincentivise landlordism, encouraging the sale of rental properties and increasing supply, or discouraging potential landlords from buying properties and reducing demand," he added. "Both scenarios would apply downward pressure on prices and provide some respite for would-be homeowners." Holly Tomlinson, financial planner at Quilter, said: "The fact that prices fell only modestly in May indicates that supply remains constrained and sellers have not yet been forced to adjust their expectations. However, with affordability still stretched and borrowing costs relatively high, the risk of a more prolonged slowdown cannot be ignored." Read more: 11 homes with spectacular swimming pools UK mortgage approvals drop for third month in a row Home renovation mistakes and how to avoid themError 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
