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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

Annual UK house price growth slowed sharply in June, ONS data shows

United Kingdom Interest Rates
an aerial view of terraced houses in south west London.
The ONS says that while the annual growth rate slowed, ‘house prices continue to increase, and average prices have now reached record levels’ in Great Britain. Photograph: Victoria Jones/PA

The annual rate of UK house price growth has slowed sharply, falling from 12.8% to 7.8% in a month, according to official data that indicates the cost of living crisis is putting the brakes on the property market.

The Office for National Statistics said the value of the average UK house increased by £3,000 in June, taking the typical price to £286,000. That is £20,000 higher than a year earlier.

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