Londoners wishing to buy a home will now have to consider splashing out over £250,000 after UK property prices continued to surge last month, according to a survey by Hometrack.
Latest figures from the property research and database company suggest the capital's price rise of 0.7% in May has pushed the average price to above £250,000 for the first time. This is even more than the previous high of £249,600 recorded only 19 months ago. Throughout the country, house prices increased by 0.6% in May, bringing the total rise this year to 3.2%, the Hometrack survey reveals. Cumbria saw the largest rises, with average price increasing by 1.5%. And overall, no counties experienced any falls last month. Hometrack believes this trend will continue yet for another ...
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