House price growth reaches 11% in June

The rate of growth has increased by 0.3% from 10.7% in May, and is 4.6% higher than in June last year, when growth of 6.4% was recorded by the index. Average house price growth has been over 10% for seven consecutive months, showing a stabilising of the market after several months of sustained growth at the end of 2006, according to Assetz. Assetz predicts a lull in the summer months - because homebuying generally slows in the holiday period - and think that the rate of growth will slow to around 8% thereafter as homeowners feel the pinch of higher interest rates. The research also shows...