House prices: biggest risers and fallers revealed

House prices have risen in every region but one over the last month although annual growth has slowed to 1.4%, our exclusive analysis shows.

Feeling a bit lost with so many house price indices out there? 

The HomeOwners Alliance House Price Watch looks at all the information from the many indices out there to give you one easy to digest round-up of everything you need to know.

The House Price Watch looks at how prices have changed in different regions over the past month and year.

House prices across the UK

Over the last year, house price growth has slowed to 1.4% and the average UK home is now worth £230,292.

“The housing market fundamentals remain largely sound in many parts of the country, but the current political climate means the crucial ingredient of confidence has been impaired and is causing some potential buyers and sellers to hesitate,” says Rightmove.

Looking at the regional breakdown over the last 12 months, Wales showed the strongest growth at 4.4%.

The East and West Midlands also enjoyed strong house price growth over the same period at 3.2% and 2.6%, respectively.

The South West, South East and London were the only regions to record a fall in prices over the last year.

London suffered the biggest decline at -2.7%, but this was better than a 4.4% fall recorded in May/June.

Planning to buy or move home? Search for a cheaper mortgage today.

Annual and monthly house price changes in the UK. (Image: HomeOwners Alliance/Land Registry)

How did prices in your area perform? 

When we look at price moves over the last month, which admittedly is a far less reliable metric than annual as it's most susceptible to freak fluctuations, the picture is mostly positive.

Only the South West experienced a decline in house price growth in June/July.

In London, house price growth was 0.7%, considerably better than a 2.5% fall in May/June.

What the indices say

HomeOwners Alliance: “At a national level, annual house price growth has slowed somewhat over the past month. Transactions have been particularly sluggish – at their lowest point in six years - suggesting the ongoing uncertain political climate is affecting buyer and seller confidence.  Regionally, house price growth reflects a North-South divide with annual house prices rising outside of London, the South East and the South West. The biggest annual house price growth is evident in Wales, the Midlands and the North West.

Halifax: “We have seen a reported drop off in the number of properties sold during the early months of summer, which may lead some to speculate a downturn is on the horizon. However, new buyer enquiries are up, and favourable mortgage affordability – driven by low interest rates and strong wage growth – should continue to underpin prices for the time being. In the longer-term, we believe there is unlikely to be a step-change in market activity until buyers and sellers see some form of resolution to the current economic uncertainty.”

Rightmove: “The housing market fundamentals remain largely sound in many parts of the country, but the current political climate means that the crucial ingredient of confidence has been impaired, and that is causing some potential buyers and sellers to hesitate. Those who have postponed their purchase should note that estate agency branches have more sellers on their books than at any time for the last four years, so there should be more choice of properties to buy. It could be a good opportunity to negotiate a relative bargain in the second half of the year, if they can set aside the continuing Brexit distractions.”

Nationwide: “While house price growth has remained fairly stable, there have been mixed signals from the property market in recent months. Surveyors report that new buyer enquiries have increased a little, though key consumer confidence indicators remain subdued. Data on the number of property transactions points to a slowdown in activity, though the number of mortgages approved for house purchase has remained broadly stable. Housing market trends will remain heavily dependent on developments in the broader economy. In the near term, healthy labour market conditions and low borrowing costs will provide underlying support, though uncertainty is likely to continue to exert a drag on sentiment and activity.”

RICS: "Survey results show some of the improvement seen in near term expectations last month has been partly reversed this time out. In particular, the outlook for prices three months ahead has turned slightly negative once more, while respondents envisage sales remaining flat over the same time frame. That said, new buyer enquiries picked up slightly for the second consecutive month, although this has yet to feed into any meaningful increase in agreed sales.”

Looking to buy or move home? Search for a cheaper mortgage today.

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