Swings in price growth are set to persist

Land Registry House Price Index: April 2017 (June Release)

Founder and CEO of eMoov.co.uk, Russell Quirk, commented:

"The latest government data seems to portray a healthier market than other industry sources on the surface, with the monthly rate of growth bucking the downward trends seen in the previous month to climb 1.6%.

That said, transactional volume was down on a month on month basis and it is reported that both buyer and seller demand dwindled, no doubt a knee-jerk reaction to the news of a snap election.

Although the events of the last year, particularly the changing political landscape, do not seem to have had a long-lasting detrimental impact on the UK property market, they have certainly stunted the rate of price growth.

Many UK homeowners and buyers for that matter would have been waiting for the election outcome to provide an air of stability in which to conduct their transaction. The reality, for the immediate future at least, will not provide that and it is likely that the unpredictable swings in house price growth seen over the last few months will now persist for a while longer.”