Wednesday, 27 July 2016

Downturn Threatens After £16,000 Rise In Prices Over Year

House prices increased strongly by £16,000 on average over the year to May - but experts warned the market is now at serious risk of a downturn. Across the UK, the typical property value was £211,000 in May, marking an 8.1% increase compared with a year earlier, the Office for National Statistics (ONS) said. The average UK house price was £16,000 higher than in May 2015 and £2,400 higher than a month earlier, the ONS said. The annual rate of house price growth was unchanged compared with April - "continuing the strong growth seen since the end of 2013," the report said. Read more on the Yahoo website.

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