Owen Woodley, Managing Director of Post Office Money, comments on the UK House Price Index June 2017

The House Price Index, June 2017, revealed that average house prices in the UK have increased by 4.9% in the year to June 2017 (down from 5.0% in the year to May 2017). The annual growth rate has slowed since mid-2016 but has remained broadly around 5% during 2017.

Owen Woodley, Managing Director of Post Office Money, said:

“A slower rate of house price growth will no doubt be welcomed by first-time buyers, many of whom are getting stuck saving for a deposit which is always out of reach. House prices remain high and Post Office Money research shows that first-time buyers are taking a flexible approach, widening their net and willing to travel to more affordable hotspots, to make their housing aspirations a reality. Solving the UK’s housing crisis will also require the industry to take a leaf out of the first-time buyers book, taking a more flexible and innovative approach in the services and products we provide to first-time buyers and home movers.”