UK house prices rise by least since 2020 and fall in London – ONS
LONDON (Reuters) – British house prices increased by 1.7% in the 12 months to June, the Office for National Statistics (ONS) said on Wednesday, the smallest rise since July 2020.
House prices in London fell by 0.6%, the ONS said.
Britain’s housing market, which boomed during the coronavirus pandemic, has come under strain from higher mortgage rates after last year’s surge in inflation.
The ONS said its measure of private rents rose by 5.3% in the 12 months to July, the biggest increase since data collection began in 2016.
(Reporting by William Schomberg, editing by Andy Bruce and Sachin Ravikumar)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
