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House prices relatively stable in June but annual growth remains in negative territory
“Annual house price growth was broadly stable at -3.5% in June, little changed from the 3.4% decline recorded in May. Prices were also fairly stable over the month, rising by a modest 0.1%, after taking account of seasonal effects, reversing the 0.1% decline seen in May. (Note that June is typically the strongest month in terms of seasonal price rises hence the change in the unadjusted cash price is larger than 0.1% in the table above.) “Longer term interest rates, which underpin mortgage pricing, have increased sharply in recent months, in response to data indicating that underlying inflation in the UK economy ... (full story)