ONS: House Price Inflation Hits 10.5%

According to the Office for National Statistics (ONS), house price increase across the UK hit the highest rate in four years as it reached 10.5 percent in May. 

It has been said that the average price of a home in the UK has now gone up to £262,000.

Inflation rose by 0.6 percent on the previous month which was greatly driven by a record increase of 20.1 percent in London.

In other areas of England, the South East house prices leaped by 9.6 percent and 8.6 percent in the East.

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BBC