UK house prices rise at slowest pace in more than 4 years: Halifax

[LONDON] British house prices rose at their slowest pace in annual terms in more than four years last month as accelerating inflation put a squeeze on the finances of many households, mortgage lender Halifax said on Friday.

Average house prices in the three months to June were 2.6 per cent higher than a year earlier, slowing from a 3.3 per cent increase in May.

Economists in a Reuters poll had expected a 3.1 per cent rise.

In June alone, house prices fell by one per cent from May, compared with a median forecast of growth of 0.2 per cent in the Reuters poll.

REUTERS