East Midlands leads the way on house price growth

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House prices in the East Midlands are seeing the fastest growth of all UK regions, a regional breakdown of the Halifax House Price Index shows.

In the East Midlands prices increased by 9.7% in the year to the second quarter of 2017, the highest growth in an English region since Q2 2012.

Overall price growth slowed to 2.4% in Q2 2017, down from 3.6% in Q1 – as house price inflation continues to slow from the peak seen in early 2016.

Tim Moore, senior economist at IHS Markit, said: “A general cooling UK housing market appears to have emerged so far in 2017, driven by affordability constraints, pressures on household finances, greater caution among buyers and the fiscal squeeze on buy-to-let.”

Scotland was the weakest performing region at -4.2%, followed by the North of England at -1.2%.

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Written by: Houseladder