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House Prices in June Reach Record High

Wednesday, August 20, 2014

Official figures have provided further evidence that runaway house price rises have begun to slow, as the rate of annual growth cooled slightly to 10.2% in June.

The Office for National Statistics data showed the annual growth rate had fallen from 10.4% in May, but prices rose by 0.5% on the month to a record £265,000 for the average property.

First Time Buyer Statistics

The amount paid by first-time buyers was 12% higher than in June 2013, at an average of £204,000 – the biggest rise since 2010.

Although recent figures from the Council of Mortgage Lenders suggest first-time buyers have been re-entering the market, campaign groups warned that homes were getting further out of reach for those forced to rent.

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