The average UK house price rose by 0.2% month on month in June, as high mortgage rates continued to hold back buyer activity, according to a report.
Prices rose at a slower rate than in May, when they increased by 0.4% month on month, indicating a slight flattening in growth as the housing market remained subdued. “For example, the interest rate on a five-year fixed rate mortgage for a borrower with a 25% deposit was 1.3% in late 2021, but in recent months this has been nearer to 4.7%.
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