Annual house price inflation slows to 6%, says ODPM

Average house prices now stand at £182,651, up from £181,832 in April. Annual house price inflation in London was also down to 1.6% in May 2005, from 2.7% in April although this inflation is likely to pick up again in the capital following the news of London’s successful bid to host the Olympics in 2012. The report says the UK annual house price inflation rate for the three months to May 2005 was 8.4% nationally and 4.6% in London. It also claims the rise in UK prices between April and May can be largely attributed to rises in the prices of terraced and detached houses, which both r...