House prices climb 10%

The average property price climbed by 10% in the year to May, with Office for National Statistics data showing that the typical value hit £254,624 as the stamp duty holiday drove demand. The figures, which are based on sales that have been completed and registered, show that homeowners making a move saw the biggest increase in prices, paying an average of £296,872 – 10.7% more than in May 2020. First-time buyers also saw an increase, paying an average of £213,336 in May – 9.5% more than May last year. London continued to be the region with the lowest annual growth for the sixth consecutive month, with property prices growing just 5.2%. The North West was revealed as the property hotspot, with house prices soaring 15.2% over the past year. At a country level, the largest annual house price growth in the year to May 2021 was recorded in Wales, 13.3%. London recorded the slowest property price rise over the year, of 5.2%.

BBC News (14/07/2021)   Daily Mail (14/07/2021)   Evening Standard (14/07/2021)   The Daily Telegraph (14/07/2021)