UK house prices rise in June despite ‘wider economic uncertainty’ – business live
Rolling coverage of the latest economic and financial newsGood morning and welcome to our rolling coverage of business, the financial markets and the world economy.UK house prices nudged up 0.2% in June compared with the month prior, according to new figures from the lender Lloyds.Recent price trends continue to reflect wider economic uncertainty, including the impact of global events on inflation and interest rate expectations. While affordability remains stretched for many buyers, mortgage rat
Overview
Rolling coverage of the latest economic and financial news
Good morning and welcome to our rolling coverage of business, the financial markets and the world economy.
UK house prices nudged up 0.2% in June compared with the month prior, according to new figures from the lender Lloyds.
Recent price trends continue to reflect wider economic uncertainty, including the impact of global events on inflation and interest rate expectations. While affordability remains stretched for many buyers, mortgage rates have eased from their recent highs, offering some encouragement to those considering a move.
While latest industry data shows the number of new mortgage approvals dropped in May, this wasn’t unexpected given the spike in rates seen earlier this year, and we’d expect to see activity recover assuming borrowing costs continue to fall.
Details
7am BST: Lloyds house prices for June
9.30am BST: Fiscal risks and sustainability report from the Office for Budget Responsibility
10.30am BST: Bank of England Financial Stability report
1.30pm BST: US May trade balance
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Originally published at www.theguardian.com.
