Halifax data relased few days ago shows that house prices increased by 1.1% in April 2022, setting a new average price record of £286,079. This rise sees average house prices gain £47,568 over the last two years. To put this in context, it took the previous five and half years to make an equivalent leap (+£47,689 between October 2014 and April 2020).

 

The rate of annual growth fell slightly to 10.8% (from 11.1%), though this partly reflects the strength of the market 12 months ago. At the current rate of growth, it raises the prospect of a typical home hitting £300,000 by the end of this year. However, as outlined above, such a prospect remains unlikely given the forecast economic conditions.

 

• UK House prices increased by 1.1% in April.2022

• Tenth consecutive monthly rise, the longest run since 2016

• House prices are up £47,568 over the last two years

• Average property price reaches another new record high of £286,079

• Northern Ireland now the UK area with strongest house price inflation

 

Read the full article:

https://www.reuters.com/world/uk/uk-annual-house-price-rise-slows-108-halifax-2022-05-06/