UK House Prices See 2.2% Annual Increase in May

British house prices rose for the third consecutive month in May, recording an annual increase of 2.2%, following a 1.3% rise in April, according to the Office for National Statistics (ONS) on Wednesday. This steady climb reflects ongoing trends in the housing market.

Additionally, the ONS reported that private rents increased by 8.6% in the 12 months to June, showing a slight decrease from the 8.7% rise observed in May. These figures highlight the current dynamics within the UK's real estate sector, impacting both homebuyers and renters.