Average UK house prices rose 1.7 percent year-on-year in June.

According to data from the Office for National Statistics (ONS), the median house price in the country was estimated at £288,000 in June. This figure was £5,000 higher than the price in the same period last year, while being £5,000 below the November 2022 high.

Thus, the increase in the average home price was 1.7 percent annually in June. Prices rose 1.8 percent on-year in May. While the median house price increased by 1.9% in England, 0.6% in Wales and 2.7% in Northern Ireland over this period, it remained unchanged in Scotland.

5.3 PERCENTAGE INCREASE IN HOUSING RENT

Home rentals in the country rose 5.3 percent annually in July. The increase in rents was 5.2 percent in June. Rents in England increased 5.2 percent during this period, 6.5 percent in Wales and 5.7 percent in Scotland.

London, Yorkshire, the West Mindlands and the Humber were the regions with the biggest increase in house prices at 5.5 per cent. Annual growth in London rental prices in July was the highest annual increase since data began in January 2006. (AA)