House prices rise at slowest rate in three years

Figures from the Office for National Statistics show that house prices rose by 1.9% in May compared with the same period last year, down from the 3.2% recorded in April and the weakest rate since July 2020. The average UK home is now worth £286,000, £6,000 higher than a year ago but below the £293,000 peak recorded in September last year. In England, the average house price grew 1.7% to £304,000, while in Wales it rose 1.8% to £213,000. In Scotland, the average price was up 3.2% at £193,000 and Northern Ireland saw the average rise 5% to £172,000. In London the average price grew 0.6%.

The Independent (19/07/2023)   The Times (19/07/2023)