UK Money News
27th June 2008
House prices 'stagnated in May'
UK house prices were unchanged during May, according to new data from the Land Registry.
Figures from the body’s latest monthly house price survey reveal that the price of home now stands at £183,266.
However, following drops in April and March of 0.2 per cent and 0.4 per cent respectively, annual house price inflation dropped to 1.8 per cent.
The annual rate of growth of UK property has now fallen for nine months in a row.
Monmouthshire was found to be area with the highest annual price growth in May at 6.9 per cent, while in Ceredigion prices fell by seven per cent to record the highest drop.
News of the official figures comes after house price surveys conducted by Halifax and Nationwide found that the average cost of a home fell by 2.4 per cent and 2.5 per cent respectively during May.
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