Average UK house price increases month on month for first time since February

Average UK house prices rose month on month for the first time in four months in June, according to Lloyds data. Property values increased 0.2% versus May, marking the first monthly gain since February, while annual house price growth edged up to 0.6% from 0.5%. The typical UK home price in June was £299,330. Lloyds said the trend reflects broader economic uncertainty, including the impact of global events on inflation and interest-rate expectations, but added that mortgage rates have eased from recent highs, offering some support. Knight Frank’s Tom Bill said prices are “going sideways” and transactions are falling due to higher mortgage rates since the start of the Middle East conflict. Other industry voices cited resilience and cautious optimism, pointing to gradual improvements in affordability and lender pricing. SPF Private Clients’ Mark Harris said lenders continue to chip away at mortgage rates, encouraging activity without a surge in prices. OnTheMarket’s Jason Tebb said easing mortgage rates are helping buyers who need to move, even as affordability concerns remain.