The firm found annual house price growth reached 11 per cent in June, up 0.3 per cent on May, with the average UK property now worth £210,768 – up from £209,492 last month.
However, it warned price growth was now set to curtail into the Autumn, with 8 per cent annual growth predicted.
Stuart Law, managing director of Assetz, commented: “In a month where the industry has looked back retrospectively over a golden decade for property investors under Tony Blair, there is little to suggest a significant downturn in the market under the new Prime Minister. While we expect the rate of property price growth to reduce over the coming months, it looks set to remain buoyant at around 8 per cent.”
Assetz also urged caution over the impact on pricing of the government’s plans for an increase in housing supply, warning the effect of more property won’t be felt by the market for years to come.
Michael Brill, director at Baronworth Investment Services, commented: “I’d agree that property prices are set to grow at a slightly slower rate. There won’t be a market crash but there will definitely be a slow-up, especially as there is the strong rumour going round that interest rates will rise again. You can see now the increased rates are beginning to hurt people’s pockets.”
catch up on the industry buzz
find the latest industry jobs
