House price growth continues to slow in UK

Tom MarkLast Update : Tuesday 18 July 2017 - 11:04 AM
House price growth continues to slow in UK

Growth in UK house prices has continued to slow, but the cost of the average home still increased by 4.7% in the year to May 2017.

Figures from the Office of National Statistics (ONS) show a drop from the 5.3% rise in the year to April.

But the average UK house price was still £10,000 higher in May than the same month last year at £221,000.

The main contribution to the rise in house prices came from England, where prices jumped by 5%.

Take the test: Where in Britain would you be happiest?

The average price of a house in England is now £238,000, while a property in Wales costs £150,000 after an increase in prices of 3.8% over the past 12 months.

The average house in Scotland costs £143,000 – after a 3.5% rise in prices over the year, while the price of a Northern Ireland home stands at £124,000 after a 4.3% rise for the year to March.

Where can I afford to live?

Source: business

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2017-07-18 2017-07-18
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Tom Mark