Annual house price growth across England and Wales increased to 10.9% in June, according to the latest e.surv Acadata House Price Index.
The figure is up from 8.7% annual growth in May, after prices climbed by 0.8% month-on-month during June.
e.surv’s data confirmed that the average price paid for a home in England and Wales in June 2022 has now climbed to £372,175, a figure up 0.8% on May.
From the start of the pandemic in March 2020, to the end of May 2022, house prices across the two nations have now increased by £53,430, or 16.9%.
“All ten of the regions in our survey have experienced rising prices over the last 12 months, with nine of the 10 setting new record average house prices in May 2022,” said e.surv director, Richard Sexton.
“Wales remains the strongest performing region – with the highest annual growth rate, a position it has now held for eleven months, and with real terms increases in prices. The return to work has seen a change in the fortunes of the South East, with Greater London now taking second place as prices over the 12 months have risen by 10.2%.
“What is clear in our data is that house price growth remains resilient notwithstanding the pressures in the broader economy. This is possibly because the squeeze on the cost-of-living is not yet being absorbed equally across society. Homeowners, for now, are relatively unscathed. Indeed, arrears figures remain at historic lows.
“Housing, as an asset group, continues to outperform other classes and so remains attractive to investors – particularly good quality properties. As ever a lack of supply of desirable stock and strong employment in the UK economy continues to support price growth.”
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