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Financial News: UK House Price Inflation At 6-Month High

UK House Price Inflation At 6-Month High

06/13/2017 - 06:00:00 (RTTNews)

(RTTNews) - British house price inflation accelerated in April to the highest level in six months, after easing in the previous month, figures from the Office for National Statistics showed Tuesday.

The house price index climbed 5.6 percent year-over-year in April, faster than the 4.5 percent rise in March.

Moreover, this was the strongest inflation since October 2016, when prices had grown 5.7 percent.

The average UK house price was GBP 220,000 in April, which was GBP 12,000 higher than in the same month of the prior year and 3,000 higher than last month.

House price inflation in England alone was 5.7 percent in April. House prices grew 4.2 percent in Wales and 6.8 percent increase seen in Scotland.

On a regional basis, London remained the region with the highest average house price at GBP 483,000, followed by the South East and the East of England.

On a monthly basis, house prices increased 1.6 percent in April.

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