UK house prices grew by 4.7% in the year to May 2017

July 19, 2017

UK House Price Index summary: May 2017 published 18th July 2017 calculated by the Office for National Statistics and Land & Property Services Northern Ireland.

Monthly report that shows changes in average house prices for England, Scotland, Wales and Northern Ireland.

UK house prices grew by 4.7% in the year to May 2017, 0.6 percentage points lower than in the year to April 2017. While the annual growth rate has slowed since mid-2016 it has remained broadly around 5% during 2017.

Looking closer at the regional level of the UK, the East of England showed the highest annual growth, with prices increasing by 7.5% in the year to May 2017. This was followed by the East Midlands at 7.2%. The lowest annual growth was in the North East, where prices increased by 1.6% over the year, followed by London at 3.0%.

The main contribution to the increase in UK house prices came from England, where house prices increased by 5.0% over the year to May 2017.

Wales saw house prices increase by 3.8% over the last 12 months.

In Scotland, the average price increased by 3.5% over the year.

The average price in Northern Ireland increased by 4.3% over the year to Quarter 1 (January to March) 2017.

Read the UK House Price Index summary: May 2017 in full click here.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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