UK house prices up 0.2% in June, first gain since February

UK house prices increased in June for the first time in four months, according to data from mortgage lender Lloyds, offering a tentative sign of market resilience amid persistent economic uncertainty. The average property price rose by 0.2 percent month-on-month to £299,330, marking the first monthly gain since February. Annual price growth also edged up to 0.6 percent.

The modest uptick follows a period of stagnation, which analysts said reflected broader economic concerns, including the impact of global events on inflation and interest rate expectations. Mortgage rates, which had spiked earlier in the year, have recently begun to soften, providing some relief to potential buyers. Amanda Bryden, head of mortgages at Lloyds, noted that while affordability remains stretched, the easing of borrowing costs offers encouragement to those considering a move.

The recovery is uneven across the country. Prices in southern England continued to weaken, with average values falling by 2.0 percent in the South East and 1.1 percent in London in June. In contrast, northern regions saw stronger growth, with prices jumping 2.8 percent in the North East and 2.4 percent in the North West, helping...