UK house prices boost inflation rates

UK annual house price inflation also rose in June to 13.9% up from 12.2% in May while London house price inflation fell however to 11.8% in June from 12.2% in May. The ODPM put the UK house inflation rise down to a rise of 1.8% in prices between May and June compared with the 0.2% rise over the same period in 2003. Price rises in the early part of the year had largely been as a result of growth in properties at the lower end of the price range, i.e. terraced houses and flats. The May to June rise, however, was more across the board of properties – flat rose 1.3%, detached houses 1....