House prices hold up despite slow growth

House prices rose by 4.1% annually, despite slower growth than a year ago, according to the UK house price index. The average property price fell by 1.2% in March to £285,009. However, the market is showing resilience, with confidence returning as inflation falls and the economic outlook brightens. The biggest annual increase in value was the 5.2% rise to £483,994 for detached houses. Prices in Wales have risen by 4.8% to £214,000 over the past year, and by 3% to £185,000 in Scotland. In Northern Ireland, they rose by an average of 5% to £172,000.

The Times (24/05/2023)