UK house prices up 7.8% in June

According to the Office for National Statistics (ONS), house prices in the UK rose by 7.8% year-on-year in June. This was the slowest increase since July last year, immediately after the government reduced the level of tax to mitigate the impact of COVID-19 on homebuyers.

The report said that the increase in home prices in June was a significant slowdown from the 12.8% increase in May.

The median home price increased by £20,000 year-over-year to £286,000 ($346,000).

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