The latest Rightmove House Price Index report reveals that the average asking price for properties in the UK has increased by 1.1% in May 2024, reaching £372,324. This is just shy of the record high set in May 2023.
The annual rate of price growth now stands at 1.7%, the highest in the past year. This growth is largely driven by larger, more expensive homes entering the market, particularly in desirable locations.