Construction News

15/07/2014

House Price Inflation Rises

New figures from the Office for National Statistics have revealed that annual house price inflation in the UK rose to 10.5% in May, up from 9.9% on the previous month and its highest rate in four years.

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The market was driven again by London where house prices rose by 20.1% in the year to May, a new record high.

Excluding London, across the UK the average house price rose by 6.4%, according to the ONS.

Other figures show that in England house prices rose by 11%, in Wales by 6.5% and in Scotland by 3.6%. Prices fell in Northern Ireland by 0/7%.

The full list of figures can be found on the ONS website.

(MH/IT)

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