HOUSE prices are on the rise in regions across the UK and are set to increase throughout the year, the UK's biggest lender has revealed.Prices rose by 4% on an annual basis in June, up from 3.3% in the previous month.Eastern England was the only region or nation across the UK to register a decline in house prices over the last year.Meanwhile, London continues to have the most expensive property prices in the UK, now averaging £536,306 - up 0.9% compared to last year.
"While in the short-term the housing market is delicately balanced and sensitive to the pace of change to base rate, based on our current expectations property prices are likely to rise modestly through the rest of this year and into 2025."have remained at a 16-year high of 5.25% for almost a year causing major affordability challenges, particularly for first-time buyers.
“Buying a first home, upsizing and even downsizing are all major personal finance decisions, which is why confidence in how your country is run is vitally important. “Annual house price forecasts reflect a more positive outlook than they did in the beginning of the year, helped by headline inflation reaching its target 2%."
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