Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»UK house prices stall in June as stamp duty change and weak economy hit confidence
    Property

    UK house prices stall in June as stamp duty change and weak economy hit confidence

    July 7, 20253 Mins Read


    UK house prices flatlined in June, with market momentum fading after the end of temporary stamp duty relief and amid growing economic uncertainty, according to the latest figures from Halifax.

    The average property price in Britain remained unchanged last month at £296,665, following a 0.3% decline in May. This leaves prices £2,150 lower than at the start of the year and annual house price inflation running at just 2.5%—the slowest pace since July 2023.

    Economists had predicted limited movement in prices, and the latest data confirms that the housing market is struggling to regain its footing. The sluggishness comes despite falling mortgage rates earlier this year and improving wage growth, which had helped to revive activity in the early months of 2024.

    However, the recent change to stamp duty thresholds in April has had a chilling effect. The removal of relief for first-time buyers sparked a rush to complete purchases before the end of March. Halifax estimates that buyers who completed on 31 March could have saved up to £11,250 compared to those who missed the deadline by a day.

    That rush was followed by a slowdown in activity, with the market still working through the after-effects. “The stagnation in the Halifax house price index in June suggests that the housing market remains slow to recover from both the rise in stamp duty on April 1 and the weak economy,” said Ashley Webb, UK economist at Capital Economics.

    Webb had previously forecast house price growth of 3.5% in 2025 but now believes that may be too optimistic, given the slower-than-expected recovery.

    There are, however, pockets of resilience. Northern Ireland remains the UK’s strongest regional market, with annual price growth of 9.6%. The northwest of England also saw relatively robust gains at 4.4%. By contrast, London and the southwest saw much weaker growth of just 0.6% and 0.5% respectively.

    “The further you get from London, the stronger the trend,” said Adrian Kearsey, a construction sector analyst at Panmure Liberum.

    Halifax said there had been signs of renewed activity in recent weeks, including a rebound in mortgage approvals and transactions, driven in part by higher wages and improved affordability tests. First-time buyer numbers have now returned to levels seen before the stamp duty changes.

    Still, affordability pressures remain acute for many homeowners, particularly those nearing the end of fixed-rate mortgage deals. Although inflation is falling, it remains above the Bank of England’s 2% target, and there are signs the labour market is softening.

    Financial markets expect two interest rate cuts from the Bank of England before the end of the year, which would ease pressure on mortgage borrowers. If those cuts materialise, Halifax expects “modest house price growth” through to the end of 2025.

    Amanda Bryden, head of mortgages at Halifax, noted: “Challenges remain. Affordability is still stretched, particularly for those coming to the end of fixed-rate deals. But the market is showing resilience, and assuming a stable economic backdrop and lower borrowing costs, we could see a gradual recovery in the second half of the year.”


    Jamie Young

    Jamie Young

    Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
    Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

    When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Four Corners Property Trust acquiert un bien immobilier au Michigan pour 2,5 millions de dollars

    Property

    Real Madrid: le PSG offre une leçon de football au Real et se qualifie pour la finale, le résumé

    Property

    Credas launches digital wallet, payments as property sector adapts to UK changes

    Property

    Les bénéfices du FTSE 100 au S1 devraient baisser de 6% avec l’énergie en baisse

    Property

    New property facility aims to combat commercial underinsurance crisis

    Property

    Debt Financing in USA for Venture, Business, and Real Estate Loan Options Explained

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Vietnam Enterprise Investments Limited annonce la nomination d’Edphawin (Eddy) Jetjirawat en tant qu’administrateur indépendant non exécutif, à compter du 1er mars 2025 -Le 24 février 2025 à 08:00

    Commodities

    Joe Rogan Presses Donald Trump On Nuclear Energy

    Commodities

    Stats Dept introducing agricultural production index to aid national food security

    Editors Picks

    India To Navigate Global Disruptions With Long-Term Investments: N Sitharaman

    April 17, 2025

    The NAGA Group Becomes First International Broker to Offer Retail Investors Direct Access to Bucharest Stock Exchange

    March 4, 2025

    BlackRock CEO warns Bitcoin could replace US Dollar as global reserve currency, crypto ETFs witness inflows

    March 31, 2025

    Exit le plastique et le métal, ces élastiques à cheveux vont sauver vos longueurs

    May 24, 2025
    What's Hot

    Hurricane didn’t trigger catastrophe bond in win for investors

    August 18, 2024

    The fintech talent shortage – Diverse skills needed to fill the gap

    August 12, 2024

    Les ventes de porcs de Shennong Agricultural Industry atteignent 385 millions de yuans en juin

    July 7, 2025
    Our Picks

    The U.S States with The Cleanest Power Grids

    July 28, 2024

    AGF Investments Announces June 2025 Cash Distributions for Certain AGF ETFs and ETF Series

    June 23, 2025

    Immobilier de bureaux : comment la crise sanitaire a changé la donne en Lorraine

    April 6, 2025
    Weekly Top

    SBP plans pilot for digital currency – Newspaper

    July 9, 2025

    Cryptocurrency News Live: Bitcoin, Ethereum, Solana prices today; memecoin updates

    July 9, 2025

    Kamoa Copper lance un centre d’excellence pour former des ingénieurs locaux

    July 9, 2025
    Editor's Pick

    Popular frozen meal sold at Aldi recalled across 31 states for metal contamination: 'Discard it immediately' – Fox Business

    January 14, 2025

    $1.4 million in stolen cryptocurrency seized by Loudoun Co. Sheriff’s Office following ‘pig butchering’ scam

    February 25, 2025

    The cheapest regions to buy property in the UK as average house prices jump

    August 9, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.