House Price Growth Subdued In June 2006

Asking prices for residential property in the UK rose by 1% in June 2006.

[ClickPress, Tue Jul 04 2006] According to http://www.WheresMyProperty.com, the average asking price for UK residential property rose by 1% to £193,053 last month. This compares to rises of 1.8% in May and 1.4% in April and brings the rise over the last 6 months to 4% and 7.7% over the last 12 months.

Winning areas were Central England (+5.4%), County Durham (+3.9%), Lothian (+3.5%), Tayside (+3.3%) and Fife (+3.3%). Losing areas include County Down (-7%), County Fermanagh (-4.8%), County Armagh (-3.6%), County Tyrone (-3.3%) and Essex (-1.4%).

Average asking prices in June 2006 for a detached property were £266,094, a semi-detached property, £175,046, a bungalow, £205,690, a terraced property, £144,521 and a flat, £157,106.

In London, the average asking price for residential property rose by 0.5% to £325,003. Winning areas were the City of London (+5.7%), Waltham Forest (+3.7%), Redbridge (+3.3%), Bexley (+2.5%), Havering (+1.7%). Prices fell in Hounslow (-3.7%), Haringey (-2.7%), Hackney (-1.3%), Enfield (-1.2%) and Ealing (-1.2%).

Housing demand and continued stable interest rates are expected to support house prices, but with house price growth being higher than earnings growth affordability is limited.

WheresMyProperty provides up to date asking price analysis for the UK and has around 900,000 property listings from 1000s of property websites. For more information see their website at http://www.wheresmyproperty.com.