UK House Price Growth Slows

A new report by Hometrack shows that UK house price inflation is continuing to fall. House price inflation has now fallen to 6.7%

This is still higher than the rate of inflation (2.5%) however, it shows that the recent interest rate rises are starting to have an effect. Also, there is an increased number of first time buyers who are unable to afford house prices. House prices in London continue to rise at the fastest rate in the UK, with prices rising by 1.3%

The average cost of a home in England and Wales increased 0.6 percent from April, the least s

Today's Hometrack report, which is based on a survey of 3,500 real-estate agents, showed prices rose 6.7 percent from a year earlier. The number of buyers registering with a real- estate agent didn't increase on the month while the volume of sales rose 4.3 percent, less than half the pace of April, Hometrack said.

see full report at Bloomberg