UK House Prices Rise at a Slower Pace

The Halifax House Price Index in the UK increased 2.5% yoy in June 2025, the least in eleven months, after an upwardly revised 2.6% rise in May.

Compared to the previous month, house prices stalled, after an upwardly revised 0.3% drop.

The average property price now stands at £296,665 compared to £296,782 in May.

“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.

With markets pricing in two more rate cuts from the BoE 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”, Amanda Bryden, Head of Mortgages, Halifax, said.