Welcome to this week’s edition of our Property News Roundup, where we bring you the latest insights and trends shaping the real estate landscape.
In this weeks news we take a look at how the new Labour Government will effect London’s prime property market. In addition to this, we get an update on UK house prices and how the new government will be looking to make their impact on the housing market.
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Now, let’s have a look at the latest headlines that have caught our eye this week…
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Property News This Week
The New Era: Labour Government and the future of the UK housing market
UK house prices still unaffordable for many people, says Nationwide
House prices in the UK remain unaffordable for many households despite wages rising above inflation for the typical earner, Nationwide has said.
Britain’s largest building society said prices had risen slightly in June amid the impact of higher mortgage costs, with a 0.2% month-on-month increase. On an annual basis house price growth accelerated from 1.3% in May to 1.5% in June, leaving prices about 3% below the record high set in summer 2022. The average price of a UK home was £266,064 in June, Nationwide said.
That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply—I’d love to chat with you about the latest market trends and discuss your investment goals.
I’ll be back next week with more insights on the property market. Enjoy your weekend!
