House prices rise for a second month in a row

Figures from the Office of National Statistics show UK house prices rose by 1.1% to £281,000 in the year to April, up from 0.9% annual growth in the 12 months to March. The ONS said house prices rose by 0.6% in England, 0.4% in Wales and 4.5% in Scotland in the year to April. The data also showed that average UK private rents increased by 8.7% in the 12 months to May, slowing from an 8.9% increase in April. However, the figures reveal a drop in London house prices, which fell by 3.9% between April 2023 and 2024 to an average of £501,880. In Newham, the average price rose 2.7% to £402,435, while in Tower Hamlets, it fell 5.7% to £440,574.

City AM (19/06/2024)   Daily Mail (19/06/2024)   Evening Standard (19/06/2024)   The Independent (19/06/2024)