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August 15

2018
by mydeposits
UK house price rises hit a three year low

House prices are rising at the slowest rate since August 2013, according to the latest official figures from the Land Registry. You can access the Land Registry’s search tool to find out more about house price trends in the UK here.

The average value of a home increased by 3% in the year to the end of May 2018 – down from 3.5% in April. But the monthly house price rise was just 0.1%. At the end of May, the average UK home was worth £226,351, says the Land Registry. The biggest increase was in Scotland, where prices were up 4.8% in the year to May 2018.

Northern Ireland trailed close behind with a 4.2% rise in the year ending March 2018. England saw a 2.8% increase and Wales a 1% rise over the year to May 2018.

The cheapest UK homes are in the North East of England, where the average price is £128,660. London has the most expensive properties worth an average £478,853. The number of homes changing hands dropped in all four countries – from 74,386 in March 2017 to 58,203 in England for May 2018, which was a change of -21.8%. In Scotland, the fall was 16.8%, while Wales saw a 13.8% drop and Northern Ireland a reduction of 12.4%.

House price change by region

Source: Land Registry

 

Annual price change by country over the past 5 years

Source: Land Registry

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