House price growth begins to show signs of slowing
Seven out of ten regions of England and Wales recorded month-on-month falls in house prices in June, according to the Land Registry. The survey suggested that overall across England and Wales, prices were unchanged in June compared with May, however, property prices were still 6.4% higher compared with a year ago, leaving the average home priced at £172,011.
A number of surveys have shown big annual price rises in recent months. Surveys are now starting to make annual comparisons with a time a year ago when the housing market was firmly in the realms of recovery. Reducing the heat in the market could be of importance as Governor of the Bank of England Mark Carney stated that a potential housing bubble could pose the biggest risk to the economic recovery of the UK.