14 Aug

UK house prices rise year-on-year

UK house prices rise year-on-year

The price of houses for sale with estate agents in the UK has risen over the last year, according to the latest figures from the Office for National Statistics (ONS).

The governmental department said that in the last 12 months, the average value of a home had gone up by around 2.3 per cent to the end of May.

Between May and June it also reported that prices went up by 0.5 per cent. Traditionally in summer the value of homes drops due to low levels of activity within the market, so this is a positive.
The largest increases were seen in London, where the mean price rose by 6.8 per cent over the space of the last year.

The only drop in value out of all of the areas which were studied was seen in the North East, where the cost of an average property dropped by 1.3 per cent, continuing a trend that has been seen in the region for the past year.ADNFCR-1222-ID-801428833-ADNFCR

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