The average price tag on a home has hit a record high for the fifth month in a row. Across Britain, the average asking price in June stands at £368,614, Rightmove said.
Prices edged up by 0.3% or £1,113 on average month-on-month as the pace of price growth is slowing, the property website said. Despite a string of interest rate rises and the increasing cost of living, buyer demand for available properties remains very strong, it said.
But it added that following a very strong first half of the year, it is likely that affordability constraints will have a greater influence on market behaviour in the months ahead. This, alongside more choice coming onto the market for buyers and the usual seasonal variations, means there are likely to be some month-on-month price falls during the second half of the year, Rightmove predicts.
