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The prices of Britain’s home unexpectedly in June, according to nationwide, recording their biggest monthly decline since the nationwide, and since January 2023.
average One property cost According to the data published on Tuesday, after an increase of 0.4 percent in the previous month, 0.8 percent declined to £ 271,619 between May and June.
In the previous month, the annual growth rate fell to 2.1 percent, below 3.5 percent in the previous month.
Both figures were below expectations as the economists voted by Reuters had estimated 0.2 percent month and 3.1 percent annual expansion on the increase in the month.
Robert Gardner, Chief Economist of Nationwide, said: “Soft in price hikes can reflect weak demand after an increase in stamp duty in early April.”
However, he hopes that from summer “to lift the activity”, because the unemployment rate is low, the earnings are growing at the real healthy speed, domestic balance sheets are strong and the cost of borrowing is likely to be slightly low “.
Stamp duty threshold returned to the level of East -2022 on 1 April, increasing costs for many property buyers and triggering prices and instability in prices and transactions.
For example, for the first time buyers began paying levy for assets of £ 300,000 or more instead of the previous range of £ 425,000.
