UK Property Market

Home Price Growth Down to 0.6% in May

According to a recent study by Hometrack, annual house price growth reached 6.7 percent in May, after home price growth stood at 0.6 percent last month. Moreover, in a number of regions, such as north-west and Wales, home prices stagnated at £127,400 and £134,200 respectively. The north saw an increase of 0.1 percent, with an average home price of £111,100, while outside of London House prices went up by only 1.3 percent.

Analysts also point out that sales growth has declined over the last month, with supply going up and the number of buyers remaining at the same level. This slowdown is thought to be caused by the rise in interest rates, which put extra pressure on the purchasing power of new buyers.

Share This

• 99.6% Drop in Asking Prices Growth in May
• Annual Home Price Inflation Down in April
• Average Home Prices Up to £206,890 in March
• Landlords Charge Higher Rents after Interest Rates Increase
• Interest Rates Go Up By 0.25 Percent

Comments are closed.