House prices higher in June than in May

House prices rose slightly in June compared with May as the summer buying season commenced, but prices are still falling year on year, new government figures show.

Selling prices went up by an average of 0.6 per cent across the UK compared with May as seven of the UK’s nine regions registered rising prices, the Department for Communities and Local Government said.

The average house price was £204,981, DCLG said.

London’s prices were up 1.6 per cent month on month while regions such as the east, south east and south west showed gains.

But compared with June 2010, house prices UK-wide fell two per cent and were down 1.8 per cent in England.

London’s house prices again bucked the national trend, increasing 1.5 per cent compared with 2010 as demand continued to rise.

But regional prices fell dramatically year on year, with prices down 8.1 per cent in Northern Ireland, 5.6 per cent in Wales and down 2.3 per cent in Scotland.

The north-west region, which includes Manchester and Liverpool, also saw prices fall 5.1 per cent.

Yesterday, property listings site Rightmove said sellers had been lowering their asking prices to boost the chance of a sale.