UK house price growth accelerates in June, ONS reveals

UK house price growth accelerated in the year to June, according to the Office for National Statistics (ONS) on Tuesday.

The UK House Price Index, which has replaced the previous house price indices separately published by the Land Registry and the ONS, rose 8.7% year-on-year in June compared to 8.5% growth in May.

The average UK house price was £214,000 in June, £17,000 higher than in June last year and £2,100 higher than last month.

In England the average price of homes rose 9.3% year-on-year to £229,000, while Wales saw a 4.9% increase to £145,000 and Scotland experienced 4.6% growth to £123,000.

London continued to be the most expensive area for homes, which cost an average of £472,000, followed by the South East at £309,000.

However, the data covers the period before the UK voted to leave the European Union in a 23 June referendum so it is unlikely to hold much weight.

A report from Rightmove on Monday showed house prices fell 1.2% on the month in August, the biggest drop since November, following a 0.9% decline in July. On the year, prices rose 4.1% in August but it marked a slowdown from July’s 4.5% year-on-year growth , according to Rightmove’s survey which covered properties put on sale between 10 July and 6 August.