Property prices record leap

Rightmoves May House Price Index  shows a 2.1% leap over the month in the average price of a property. The average price of a home in England and Wales is now £249,706, up from £244,706 at the end of April.

This means according to their data the last 12 months has seen a rise of 9.1% (£20,852) on the average home.

Although areas across the country have seen improvement, the upward trends are still strongest in London and the South East.

Miles Shipside of Rightmove commented "Despite a new national record, it’s not ‘green-shoots of recovery’ across the board, especially for the deposit-strapped mass-market. They must wait patiently until January when the Help to Buy scheme extends to the resale market, unless new homes developers can increase building dramatically this year.”

Read more opinion on the statistics

In This is Money

In Businessweek

In Citywire

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