UK house prices dipped in May – which regions saw highest annual property price growth?

House prices dropped by 0.4% in May as the market readjusted following a rush to finish transactions before April’s stamp duty deadline.

Man walking past an estate agent
(Image credit: Bloomberg via Getty Images)

House prices in the UK cooled in May, falling by 0.4% (around £1,150) as the market readjusted after April’s stamp duty hikes, the latest house price index shows.

The average cost of a home is now £296,648, representing annual growth of around 2.5% (just over £7,000), down from 3.2% in April, according to Halifax’s house price index.

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Region

Average Price (£)

Annual Change (%)

East Midlands

244,754

2.8

Eastern England

334,720

1.6

Greater London

542, 017

1.2

North East

175,174

2

North West

240,823

3.7

Northern Ireland

209,388

8.6

Scotland

214,864

4.8

South East

391,253

1.8

South West

304,519

1.1

Wales

230,405

4.8

West Midlands

260,118

3

Yorkshire and Humber

213,983

3.7

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.