UK house prices hit a new record high in May, but the property market may be starting to cool, new data from Halifax shows.
Across the country, the typical property value increased by £2,857 month on month in May - to £289,099. An imbalance between supply and demand for housing remains the primary reason behind the climb, the report added.
Northern Ireland had the strongest annual house price inflation in May, seeing prices rise by 15.2% to £185,386, followed by South West England where prices jumped 14.5% to £305,173. In Wales, house prices jumped by 13.7% annually, pushing the average house price there to a record £216,120.
