Acadata has released its latest house price results for the UK, which shows that annual price growth climbed back into the black driven by a rebound in London:
In the year to May, UK house prices climbed by 0.3% (up from -0.1% in April), driven by Greater London where value losses fell to -0.2% from -2.1% in April.
The below chart shows that London house prices have posted a 1.9% rebound since bottoming in August 2018:
Meanwhile, transaction volumes are rising modestly nationally, but are down in London:
Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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