The Office of National Statistics has reported that in April, house prices rose on average by 1.2% since March 2018.
There has been an annual price rise of 3.9%, which makes the average property in the UK valued at £226,906.
In England, the April data shows on average, house prices have risen by 1.1% since March 2018. The annual price rise of 3.7% takes the average property value to £243,639.
The regional data for England indicates that the North East experienced the greatest monthly price rise, up by 4.2%. The East of England saw the most significant monthly price fall, down by 0.8% and London saw the lowest annual price increase, up by 1%.
Jeff Knight, marketing director at Foundation Home Loans, said: “While recent noise would indicate the property market is stalling, interest from new buyers and converting sales continues to keep momentum ticking away. If you delve beneath the surface, there are always local draws and selling points helping to boost offerings.
“That said, affordability remains an issue for first-time property hunters, particularly ahead of the typical summer slowdown, meaning there are growing numbers still living in rented accommodation while they wait to make a move.
“There is no doubt of the growing opportunity the buy-to-let market presents, and given 14% of landlords find themselves becoming a landlord by accident, it’s even more important they are persuaded to stay invested and help to ensure both quality and choice of property for future renters.”
