Key facts
- UK house prices were flat in June.
- UK house prices saw a slight monthly fall in June.
- Ongoing market uncertainty affects the UK housing market.
- US construction spending increased in May.
- Homebuilding in the US is constrained by higher mortgage rates.
UK house prices remained flat in June, with a slight monthly fall, as the market grapples with ongoing uncertainty. This stagnation indicates a cautious sentiment among buyers and sellers.
Across the Atlantic, U.S. construction spending experienced a modest increase in May. Despite this overall growth in construction activity, the residential sector, specifically homebuilding, faced headwinds. Higher mortgage rates are identified as a primary constraint, limiting new construction and potentially affecting affordability for prospective homeowners.