(Halifax) The average house prices in the UK increased by a monthly 1.1% or 3,078 pounds in April to claim another record high of 286,079 pounds.
The April gains in house prices happened for the tenth straight time, marking the longest streak of increases since the end of 2016. The house prices have now risen by up to 47,568 pounds in the last two years.
On an annual basis, the house prices are up by 10.8% slower slightly compared to the 11.1% gain the previous month.
On a regional basis, the highest annual uptick in house prices was in Northern Ireland, with increases of 14.9%, the highest gain since 2007. London posted the smallest increase, with house prices up by an annual 6.2%.
Halifax’s Managing Director Russell Galley says that although the current house prices show little signs of slowing down, headwinds including high price to income ratio, rising rates, and inflation could push the house costs down towards the end of the year.
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