Overview

• London's house prices increased by 0.2% in May, the first annual rise in a year.
• UK house prices overall grew by 2.2%, with London showing the lowest regional growth.
• Outer London boroughs like Merton and Hounslow saw significant price increases, while central areas like Westminster experienced declines.
• The average house price in London is now £523,000, with high borrowing costs impacting market activity.
• Stabilized inflation and potential Bank of England rate cuts could further influence the housing market.