HOUSING MARKET "BOOM CONTINUES TO MOVE FORWARD AT AN ALARMING PACE"
Report out today by Marc De Silva from propertyindustryeye
Residential property prices have increased significantly across the UK, led by gains in the North West of England, where prices are up by more than 15% in the year to May, official figures show.
According to the Office for National Statistics (ONS), average cost of a home reached £255,000 in May, which is an increase of £23,000 than the typical value 12 months earlier.
The 10% average growth in property prices is the fastest rate for 14 years.
Estate agents have reported huge demand from property buyers during the year so far, placing upward pressure on property prices, particularly detached and terraced homes, which have witnessed the greatest price gains.
The full report can be read here