Market Commentary – June 2024

Inflation Beaten But Weaker Sentiment

Land, Bricks, & Money

Inflation Beaten But Weaker Sentiment

Land, Bricks, & Money

Market At A Glance

Economy – UK

The ONS estimated monthly GDP rose 0.6% in the year to April 2024. Monthly GDP was 2.1% above the pre-pandemic peak recorded in January 2020. However, this monthly data will continue to be revised in the future.

House Prices - UK

Rightmove reported a 0.6% annual rise in asking house prices in June 2024 while Nationwide reported a 1.5% annual rise in their mortgage approval-based index over the same period. Meanwhile, the ONS reported a 1.1% annual rise in its sales agreed index for the year to April 2024.

Transactions – UK

HMRC provisionally reported 91,300 residential transactions in May. This was just 5% lower than the same month in 2019. Meanwhile, the Bank of England reported mortgage approvals for house purchase were 8% lower in May 2024 than the same month in 2019.

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