House price inflation grew slightly faster in May than in previous months, as government figures reveal the average house price at a higher rate than the same time last year.
Latest statistics published by the Department for Communities and Local Government - previously the Office of the Deputy Prime Minister reveal the average UK house price rose 0.9% between April and May to £190,051 from £188,290, helping to lift annual house price inflation by 5.6% in May this year, up from 5.1% in April. Annual house price inflation is still much higher in London at 7.1% although this is unchanged from the previous month, suggesting prices rose much faster in the UK regions such as Scotland against a fall in inflation in Wales. Scotland appears to have seen the best pro...
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