The latest data and analysis from ONS and Land Registry has revealed that average house prices in the UK increased by 5.6% in the year to April, up from 4.5% in the year to March.
According to the UK HPI, the monthly price change for a property in the UK was recorded at 1.6% with the average UK house price now standing at £220,000.
The figures also revealed that the East of England showed the highest annual growth, with prices increasing by 8.1% in the year to April 2017. This was followed by the South West at 6.8%. The lowest annual growth was in the North East, where prices increased by 0.6% over the year.
However while up against March 2017, the Index notes that there has been a “general slowdown in the annual growth rate since mid-2016”.