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Eastern promise boosts house price growth

House prices in the UK rose 4.9% in the year to June, spurred by strong growth in the east of England and the East Midlands, according to the latest UK House Price Index.

Average prices in the east of England jumped 7.2%, year-on-year, to an average £286,623.

Prices in London grew by a more muted 2.9% after falling 0.7% in one month.

The rate of growth dipped in the housing market in 2016, falling steadily from 8.2% at the beginning of the year. It has now levelled off at about 5% since the beginning of 2017.

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