(Halifax) House prices in the UK increased by an annual 10.5% in May to set a new record high of 289,099 pounds.
The record high house prices happen after an increase of 1.0% in May from April, marking the eleventh straight monthly rises. On a quarterly basis, UK house prices increased by 3.2%.
Northern Ireland recorded a stronger annual house price increase of 15.2%, taking house prices to 185,386 pounds.
The South West saw a 14.5% increase in annual house prices to an average cost of 305,173 pounds, Wales saw a 13.7% annual increase to a fresh record 216,120 pounds.
All the nine regions of the UK posted double-digit increases in annual house prices, except Yorkshire and Humber, Scotland, and London. House prices in London still remained the highest.
Despite the rising prices, the housing market in the UK is cooling down, with the annual jump the lowest this year. UK house prices have now increased by 74% over the past decade.
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