Average UK house price rises by £5,000 in June

UK house prices rose on average by 1.7% but signs of recovery might be short-lived.

Uk property prices
London remained the most expensive region to buy a home, with the average house price at £528,000.
(Image credit: Getty Images)

The average UK house price rose in June, with the typical cost of a home now standing at £288,000, some £5,000 higher than a year ago. UK house prices increased by 1.7% in the 12 months to June 2023, down from 1.8% in May 2023, according to the Office for National Statistics (ONS).

On a seasonally adjusted basis, the average UK house price increased by 0.3% in June 2023, following a month-on-month decrease of 0.3% in May 2023.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Pedro Gonçalves
Contributor

Pedro Gonçalves is a finance reporter with experience covering investment, banks, fintech and wealth management. He has previously worked for Yahoo Finance UK, Investment Week, and national news publications in Portugal.