Property and rent price rises speed up

Property and rent prices have been rising at an accelerated rate, according to the latest figures, as a cost of living crisis hammers household budgets. Rents in the UK rose by 3% in the year to June, up from 2.8% in the 12 months to May. House prices increased 12.8% in the year to May to £283,000, up from 11.9% in April, the Office for National Statistics revealed. The average cost of a home has jumped by £32,000, more than the average annual wage of £31,252.  

City AM (20/07/2022)