UK houses prices continues to rise
Average house prices in the UK increased by 8.1 per cent in the year to May 2016, unchanged from the previous month and continuing a run of strong growth seen since the end of 2013. The data from the Office of National Statistics (ONS) also shows that the average UK house price was £211,000 in May 2016, some £16,000 higher than in May 2015 and £2,400 higher than April 2016. The ONS report says that the main contribution to the increase in UK house prices came from England where they increased by 8.9 per cent over the year to May 2016, with the average price in England now £227,000. Wales saw house prices increase by 3.6 per cent over the latest 12 months to stand at £143,000. In Scotland, the average price increased by 4.0 per cent over the year to stand at £141,000 and the average price in Northern Ireland is currently £118,000. On a regional basis, London continues to be the region with the highest average house price at £472,000, followed by the South East and the East of England, which stand at £306,000 and £265,000 respectively. The lowest average price continues to be in the North East at £124,000. London was also the region which showed the highest annual growth, with prices increasing by 13.6 per cent in the year to May 2016. The South East at 12.9 per cent and the East of England at 12.8 per cent also had high annual growth. The lowest annual growth was in the North East, where prices increased by 3.2 per cent over the year.
Tags : INTERNATIONAL