View more on these topics

Slight growth in house prices in July: Rightmove

House prices for newly marketed properties have been at a ‘virtual standstill’ in July, according to the latest Rightmove index, up 0.1 per cent from June.

Despite the marginal growth, this is an improvement on the 0.4 per cent fall in prices between May and June this year and the 0.9 per cent drop in the same month last year.

The average house price in England and Wales is £316,421 in July, up from £316,109 in June.

The number of sales agreed was up by 4.6 per cent in June 2017 compared to June 2016, and the number of sellers coming to market was up 7.6 per cent on the same period a year ago.

Rightmove director Miles Shipside says: “Prices are in the summer doldrums. Sellers coming to market at this time of year have to price more keenly as the traditionally bubblier spring selling season is over and prospective buyers are distracted by their own summer holiday plans. A year on from the shock referendum result and subsequent dent in activity levels, the fundamentals remain strong. Low unemployment, low interest rates, strong demand and historic undersupply of homes are mitigating any wobbles in confidence and as a result nearly half the properties on the market, over 45 per cent, have sold signs slapped across them.”

Mortgage Advice Bureau head of lending Brian Murphy says:  “Overall, today’s Rightmove report would suggest that even though we’re moving into high summer which is traditionally a slower time for property sales, the market would appear to be ticking over very nicely with no apparent immediate cause for concern or negative sentiment, which it’s probably reasonable to suggest might lead to a consistent picture for the foreseeable future.”


Housing Watch: Building must not stop

Despite political upheaval, new-build continues to attract buyers with options and incentives not available elsewhere The general election on 8 June divided the popular vote more starkly than any election since 1974. Back then, first Harold Wilson and then James Callaghan led a Labour government with no overall majority; and, in the midst of industrial […]


Uncertainty negatively impacting housing market, says RICS

The latest residential market survey from RICS has indicated a continued decline in supply and transactions in the housing market, mainly due to ‘domestic political uncertainty’. The June 2017 study of surveyors showed that the current state of the economy was hitting the market, with net balances for new buyer enquiries, new instructions and agreed sales […]

piggy, money, cash

House prices nudge down in June: Halifax

House prices fell 1 per cent in June, according to Halifax’s latest house price index. The lender’s seasonally-adjusted figures show the average house is now worth £218,390. June’s house prices were up 2.6 per cent year-on-year. Property prices fell 0.1 per cent in the three months to June. Halifax housing economist Martin Ellis says: “Although […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article


News and expert analysis straight to your inbox

Sign up