The average house price in the UK stood at £224,439 over the three months May, according to the latest House Price Index from Halifax. This is 1.9% higher than in the same period last year. On a monthly basis, prices rose by 1.5% in May, which has partially reversed the 3.1% monthly decline experienced in April.
Average house prices across the UK fell by 0.2% in March compared to the previous month, according to the latest House Price Index. On an annual basis however, average prices have risen by 4.2%, taking the average value of a property in the UK to £224,144.
The property market, and particularly property sales, has remained relatively subdued over the past twelve months, one sector of the market that has seen an increase in activity is sales of high-end properties.
There has been a significant rise in the average price of flats in the UK over the last five years, with average prices rising from £157,061 in 2013 to £232,135 in 2018. This is equivalent to £1,252 per month, research by Halifax has revealed.