Average house prices in the UK rose 3.5% year-on-year in April, according to data from the UK’s Office for National Statistics. In the UK, the increase was 3.7 percent.
Average house prices in the UK rose 3.5% year-on-year in April.
According to the UK’s Office for National Statistics (ONS), the increase in housing prices declined in April compared to 4.1 percent in March.
Average house prices were £286,000, up 3.5 percent year-on-year in April. Although prices were £9,000 higher than the same period last year, they fell £7,000 below the level in September 2022, when average prices peaked.
Average house prices increased by 3.7 percent to £306,000 in England in April, £213,000 in Wales, up 2%, £187,000 in Scotland up 2%, and £172k in Northern Ireland, up 5%.
London was the city with the lowest change in average house prices on an annual basis with 2.4 percent.
Meanwhile, rental prices in the UK rose 5 percent year-on-year in May. Rental prices increased by 4.8 percent in April.
The increase in rent prices in London in the last year has remained above the UK average with 5.1% and has been recorded as the highest annual increase since October 2012.