House prices show slight yearly growth

The cost of buying a home in the UK has risen slightly in the year up until the end of April, showing a degree of positive movement in the UK property market for the first time in months.

According to the latest figures from the Office for National Statistics (ONS), the average price of buying a home in the UK rose by 1.4 per cent in the 12-month period up until the end of April 2012.

As is commonplace in the current climate, where the UK is in a recession, London was again the best performer, with a 4.9 per cent year-on-year rise in the capital alone.

The price of a new home in the UK increased by more than five per cent over the course of the last year, while those homes which had been lived in previously grew in value by 1.1 per cent.