UK average house price hits record high but number of sales is falling

House prices hit record highs in the last month, but the number of sales fell 5% compared to this time last year, according to the latest Rightmove house price index. The national average asking price hit £308,075 in May, up 0.8% from £305,732 in April, and seven out of 11 UK regions recorded their highest ever asking prices, with increases of more than 4% in the East Midlands, West Midlands and Wales. However, Rightmove said the overall picture is “one of a less buoyant market”, both in terms of price growth and number of sales agreed. Click here for the full Independent article