Home prices stable across UK

A recent study from one of the UK’s main lenders, the Halifax, suggests that UK property prices in the three months ending in May were 0.8 per cent higher than the previous three months. According to the research this is the second consecutive three month period where UK property values have grown rather than the preceding six months which saw prices fall on a monthly basis. Looking at the next few months economists believe house prices across the UK excluding the London property market will remain generally static although some regions may see further price reductions as the uncertain economic conditions continue. The first time buyer sector of the UK property market continues to struggle to gain any momentum particularly with the withdrawal of the stamp duty concession for first time buyers and the on-going tight lending conditions applicable to most UK mortgages.