House prices rise sharply across the UK

There has been a sharp rise in house prices across the UK, with the North West of England seeing an annual increase of 15% to May.

The North East of England, Scotland, and Wales also saw a rapid rise in property prices.

The Office for National Statistics (ONS) reported that the average cost of a home in the UK rose to £255,000 in May – a £23,000 rise from a year earlier.

The overall rise of 10% is the fastest that has been recorded for the last 14 years.

Land Registry data in England and Wales show that detached and terraced homes recorded the biggest increases in price.

House prices rise sharply across the UK

House prices rise sharply across the UK There has been a sharp rise in house prices across the UK, with the North West of England seeing an annual increase of 15% to May. The North East of England, Scotland, and Wales also saw a rapid rise in property prices.