House prices have risen by 8.2% annually in April, passing a record high set the previous month, according to the Halifax
Across the UK, the average house price in April was £258,204.
Property values increased by 1.4% month on month. Halifax predicts that the pace of house price growth will slow later in the year.
Russell Galley, managing director, Halifax, said: “House prices in April eclipsed the record high set the month before (£254,604) as the market continued to maintain its recent momentum.
“The average property is now worth £258,204, up 1.4% month on month and 8.2% annually, the highest annual growth rate in five years.
“In cash terms, almost £20,000 has been added to the value of the average home since the market had essentially come to a standstill in April 2020.”
In April 2020, the average house price was £238,511.
