Households across the UK perceive that the value of their home rose in June, according to the latest House Price Sentiment Index (HPSI) from Knight Frank and Markit Economics.

This is the thirty-ninth consecutive month that the reading has been above 50. Some 23.7% of the 1,500 households surveyed across the UK said that the value of their home had risen over the last month, while 4.4% said that prices had fallen. This resulted in a HPSI reading of 59.7.

Any figure over 50 indicates that prices are rising, and the higher the figure, the stronger the increase. Any figure below 50 indicates that prices are falling. June’s reading was a decrease from the 61.0 recorded last month and significantly below the peak of 63.2 recorded in May 2014, reflecting the easing in average UK house price growth which has been seen since then.

Households in the North East perceived that the value of their home fell in June, the first time that households in any English region perceived house prices had fallen since August 2013.

The future HPSI, which measures what households think will happen to the value of their property over the next year, fell to 67.7 in June from 70.3 in May. This is the lowest reading recorded by the index since August 2013, indicating that households are less confident that prices will rise than at any time since then.