Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
The Land Registry has announced that house prices fell by 2% in May compared with April.
House prices are now 8.2% higher than a year ago, compared with 8.5% in April, with London prices rising higgest of all at 14.2%.
The other major providers of house price information, Nationwide and Halifax, have also said that house price growth eased in May.
Because the Land Registry uses completed transactions for its figures, it lags behind other monitors of the housing market but this does make it the most authoritative.
Some estate agents believe that the abolishment of the requirement for Home Information Packs, has boosted the number of properties coming onto the market and that this, in turn, may hold prices back.
