How much the average house price has changed in your region
Halifax reports a 0.4 per cent drop (£1,150) in average UK house prices between April and May, but property values have increased by over £7,000 in the last year.
The annual rate of house price growth slowed to 2.5 per cent in May, down from 3.2 per cent in April, contrasting with Nationwide 's report of a 0.5 per cent increase in property values.
Halifax indicates the housing market is largely stable, with average prices down only 0.2 per cent since the start of the year, absorbing the spring stamp duty surge.
Tom Bill from Knight Frank notes that demand was front-loaded due to April's stamp duty deadline, leading to downward pressure on house prices.
Halifax states the average house prices around the country include East Midlands (£244,754), Eastern England (£334,720), London (£542,017), North East (£175,174), North West (£240,823), South East (£391,253), South West (£304,519), West Midlands (£260,118), Yorkshire and the Humber (£213,983).
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