Purplebricks CEO Says World Cup, Warm Weather Slow UK Housing as Prices Edge Up 0.2%
Updated
Updated · The Negotiator · Jul 7
Purplebricks CEO Says World Cup, Warm Weather Slow UK Housing as Prices Edge Up 0.2%
2 articles · Updated · The Negotiator · Jul 7
Summary
£299,330 was the average UK home price in June, up 0.2% from May and ending four straight months without growth, according to Lloyds.
Michael Bruce said the market has still slowed in the past month because the World Cup and unusually warm weather are delaying moves rather than reflecting weaker fundamentals.
Bruce expects activity to recover in the second half, arguing buyer confidence matters more than prices or rates and has improved slightly in recent weeks.
Annual price growth ticked up to 0.6%, but gains remain modest as stretched affordability and high borrowing costs continue to cap the market.