Today’s Office of National Statistics latest figures are in for May 2022. This gives a real insight into what the property market looks like in the UK. We have summarised the key statistics for an easy overview of the UK property market (below).
As with the current weather the market remains hot across the UK and England saw a record of the average house price being £302,278. UK average house prices increased by 12.8% over the year to May 2022, up from 11.9% in April 2022.
The average UK house price was £283,000 in May 2022, which is £32,000 higher than this time last year.
Again we are seeing London continuing to be the region with the lowest annual growth at 8.2%.