UK house prices have fallen in June for the first time since 2009

Emma Haslett
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House prices fell for the first time since 2009 (Source: Getty)

June: traditionally a month the UK's house-hunters dust off their walking shoes go in search of a new home.

Not so much this year, though, new figures have shown, after house prices fell this month, the first time they've fallen in June since 2009.

Rightmove's house price index showed average asking prices fell 0.4 per cent between 14 May and 10 June, having risen 1.2 per cent the month before.

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Miles Shipside, the company's director, suggested uncertainty in the run-up to the election may have been to blame.

"The price of property coming to the market had increased in June in every year since 2009, so buyers' confidence has clearly been affected by inflation outstripping their pay packets and current political events," he said.

"Anyone that claims the political landscape has no direct impact on the UK housing market need only to look at the latest index from Rightmove to be told otherwise," added Russell Quirk, chief executive of online estate agent Emoov.

"With the snap election in June, it is no wonder price momentum stalled as both buyer and seller alike held off until some greater stability for the nation was decided. Unfortunately, stability was the last thing we received at the start of the month and so not only will this period of uncertainty now be prolonged, but it is likely the market will continue to splutter where price growth is concerned."

Figures published last week by the Land Registry showed house prices rose in April by their most in six months. However, the comparison was skewed by new stamp duty rules introduced at the beginning of April last year: transactions jumped in March 2016, then slowed to a trickle the following month.

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