House Prices Rise in May by 0.3%

On the three month on three month measure, prices rose by 0.6%. The price of a typical home in May is 1.2% lower than one year ago.

Headlines
Monthly Index Apr : 329
Monthly index May : 330

Monthly Change Apr. : -0.2%
Monthly Change May : 0.3%

Annual Change Apr : -1.3%.
Annual change May : -1.2%

Average Price Apr : £165,609
Average Price May : £167,208

This price increase by 0.3% in May, only just offsets the 0.2% fall recorded the previous month, and leaves prices 1.2% below the level prevailing in May 2010.

Overall, the modest pace of house price growth in May suggests that the property market is continuing to mirror the lacklustre trends evident in the wider economy.