Average price of A Britain’s House According to Halifax, there was a fall of £ 1,150, or 0.4 percent between April and May.
Despite the monthly dip, Property values have increased More than £ 7,000 in the previous year, the company said. The decline in May follows an increase of 0.3 percent in the last month.
Annual rate of House price hike In May, 2.5 percent slowed down, from 3.2 percent in April.
Contradiction with Halifax’s latest report Nationwide construction society indexWhich states that after a decline of 0.6 percent in the last month, property values increased by 0.5 percent between April and May.
Amanda Breden, head of the hostage in Halifax, said: “UK’s average prices fell by 0.4 percent in May – a slight increase in April by £ 1,150 after a slight increase in April.
“In the last 12 months, prices have increased by 2.5 percent, which is more than £ 7,000 in the price of a specific house, now at £ 296,648.
“These small monthly movements point towards a housing market, which has been largely stable, the average prices have been reduced by only 0.2 percent since the beginning of the year. The market has been absorbed by temporary increase in activity on spring, which was inspired by changes in stamp duty.
“Strength remains a challenge, house prices are still high relative to income. However, low mortgage rates and stable wages have helped support the buyer’s confidence.”
In April, stamp duty discount became less generous for some home buyers. According to data published by HM Revenue and Customs (HMRC), the estimated 64,680 houses were sold in April – 64 percent less than the 177,440 transactions reported in March.
Tom Bill, head of the UK residential research at Knight Frank, said: “The demand for the deadline of April this year was a front-load for the deadline for duty duty, meaning that house prices are coming under pressure down because the buyers in the market still have a lot to choose.
Halifax said that the increase in house prices in Northern Ireland, Wales and Scotland has overtaken the regions in England.
The report said that in London, house prices have increased by only 1.2 percent year after year.
But Halifax said that London is the most expensive part of the UK Housing Market, priced at an average house £ 542,017.
Mark Harris, Chief Executive Officer of Horticulture Broker SPF private customers, said: “The cheapest fixed rate mortgage has started growing up again with the evil rate of swap rates, which outlines their pricing, suggesting that there is an increase in the mortgage rate in short -term.
“However, rates are only part of the picture. After a change in the guidance of Bank of England in March, reduce changes in criteria and hostage tension tests by lenders such as nationwide and Natwest, this means that tens of thousand pounds can now be available to buyers.
“This will promote strength, allowing more borrowers to reach the ladder of the housing in the coming months.”
According to Halifax, the average house prices and percentage are annual rise. Regional annual changes figures are based on the most recent three months approved mortgage transactions data:
- East Midlands, £ 244,754, 2.8 percent
- Eastern England, £ 334,720, 1.6 percent
- London, £ 542,017, 1.2 percent
- North East, £ 175,174, 2.0 percent
- North West, £ 240,823, 3.7 percent
- Northern Ireland, £ 209,388, 8.6 percent
- Scotland, £ 214,864, 4.8 percent
- South East, £ 391,253, 1.8 percent
- Southwest, £ 304,519, 1.1 percent
- Wales, £ 230,405, 4.8 percent
- West Midlands, £ 260,118, 3.0 percent
- Yorkshire and Huber, £ 213,983, 3.7 percent
