Average house prices rose in June to £173,756 compared with £170,719 in May, according to the lastest house price statistics from the Office of the Deputy Prime Minister (OPDM).
UK annual house price inflation also rose in June to 13.9% up from 12.2% in May while London house price inflation fell however to 11.8% in June from 12.2% in May.
The ODPM put the UK house inflation rise down to a rise of 1.8% in prices between May and June compared with the 0.2% rise over the same period in 2003.
Price rises in the early part of the year had largely been as a result of growth in properties at the lower end of the price range, i.e. terraced houses and flats.
The May to June rise, however, was more across the board of properties – flat rose 1.3%, detached houses 1.5%, semi-detached rose 2.2% and terraced houses continued higher growth with a 2.3% rise, suggests the survey.
House price inflation was higher in the north of England than the South, with rates in the North East and North West highest at 27.6% and 25.9% respectively and Yorkshire and the Humber 26%.
Rates in the East and West Midlands were above 15%. London recorded 11.8% however reflecting a lower increase in property prices. Lowest inflation rates were experienced in the South East and East at 6.7%.IFAonline
Went into administration April 2018
Threat of legal action looms over Woodford IM
View from the front row
Retirement Planner Forum 2019