Home prices in the U.K. continue to climb in April, according to the latest Halifax Home Price Index…(Halifax)
- Y-O-Y: Home prices increased 10.5% when compared to May 2021., this is down slightly from the 10.8% reported in April.
- M-O-M: Prices increased by 1.0% in May, down slightly from the 1.1% reported in April.
NOTE: This was the eleventh consecutive monthly rise in home prices.
Russell Galley, Managing Director of Halifax, said home prices could impact the typical cycle of housing…
- “Compared to May last year, you’d need around £10,000 more to buy a flat, but an additional £50,000 for a detached home. This clearly creates a knock-on effect for those looking to make their first home move, as the rungs on the housing ladder have become increasingly wider.”
NOTE: The average cost to buy a home in the UK hit another record high at £289,099. House prices have risen 74% in the last 10 years
