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The Guardian - UK
The Guardian - UK
Business
Joanna Partridge

Average UK house price hits record of £289,099 but market starts to cool

Halifax United Kingdom Inflation
Cottages in Exeter, Devon
Halifax says mortgage activity has started to slow in the UK. Photograph: Lee Pengelly/Alamy

The average UK house price hit a fresh high in May, rising for the 11th month in a row, according to Halifax data, but the annual growth rate slowed in a sign that the cost of living crisis is cooling the market.

House prices increased by 1% between April and May, or £2,857, taking the average price of a home to a record of £289,099.

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