According to May’s UK House Price Index, average house prices in the UK have increased by 4.7% in the year to May 2017 – down from 5.3% in the year to April 2017.
- The data also revealed that the annual growth ratehas remained broadly around 5% during 2017.
- Regionally, East of England showed the highest annual growth, with prices increasing by 7.5% in the year to May 2017.
- This was followed by the East Midlands at 7.2%.
- The North East experienced both the greatest monthly price growth with an increase of 1.8%
- Comparing May 2017 to April 2017, property transactions fell by 3.3%.