2017.07.1707:35:00UTC+00UK House Prices Continue To Fall: LSL Acadata

UK house prices dropped for the third straight month in June, the LSL Property Services/Acadata showed Monday.

House prices dropped 0.2 percent in June from May, when they slid 0.1 percent. The average price in June was GBP 301,114.

On a yearly basis, house price inflation eased to 3.8 percent from 4.3 percent in the previous month.

"Don't write the market off just yet," Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents, said.

"We've seen three months of falls, but it's far too early to panic. Mortgage rates are still affordable and the slow down we have seen will already have helped some buyers struggling with affordability."

The election and its result have merely exacerbated a slow-down in price growth that can be seen since the beginning of the year, Blake added.

Average prices in the capital fell for the second month in succession in May, down GBP 3,101, or 0.5 percent, to GBP 613,650.