The three months from March to June saw a 5% increase in house prices, but statisticians say that the most encouraging sign is that the trend over the last 12 months is a 1% increase. They say that the annual trends are more revealing because a few high or low-value property sales can swing the monthly figures in either direction.
The figures also saw the average price for a three-bedroom house creep over the £500,000 for the first time since 2011.
For the last five years, house prices have fallen by around 1% per year – the latest figures mean that the last 12 months have seen a 1% rise overall.
This morning’s figures showed that the most recent prices were:
– One-bedroom flats – £219,000 (up £20,000 on the previous quarter.)
– Two-bedroom flats – £354,000 (up £14,000.)
– Two-bedroom houses – £382,000 (up £5,000.)
– Three-bedroom houses – £508,000 (up £50,000.)