Northern Ireland house prices rise the most in UK

Northern Ireland house prices have risen the most across the UK.

New figures show Northern Ireland had the strongest annual house price inflation in May, seeing prices rise by 15.2%.

Meaning the average price for a home here is now £185,386.

The average house price hit a record high of £289,099 in May across the UK, but the market is showing signs of cooling, according to an index.

Across the UK, the typical property value increased by £2,857 month on month in May, Halifax said.

Russell Galley, Halifax managing director, said: "The average cost of buying a home in the UK is up 1%, or £2,857, on last month, and has now risen for 11 consecutive months.

"Annual growth also remains in double digits, at 10.5%, although this is the slowest rate of growth seen since the start of the year."

He continued: "For house hunters, the extent of the impact of property price inflation continues to be linked to the type of home they are looking to buy.

"Compared to May last year, you'd need around £10,000 more to buy a flat, but an additional £50,000 for a detached home.

"This clearly creates a knock-on effect for those looking to make their first home move, as the rungs on the housing ladder have become increasingly wider.

"However, the housing market has begun to show signs of cooling.

"Mortgage activity has started to come down and, coupled with the inflationary pressures currently exerted on household budgets, it's likely activity will start to slow.

"So, there is perhaps one green shoot for prospective purchasers - with overall buying demand down compared to last year, we may be past the peak sellers' market."

Here are average house prices in May and the annual increase, according to Halifax:

– East Midlands, £239,859, 12.3%

– Eastern England, £337,216, 11.6%

– London, £541,942, 6.3%

– North East, £166,449, 10.6%

– North West, £219,849, 10.6%

– Northern Ireland, £185,386, 15.2%

– Scotland, £198,288, 8.3%

– South East, £391,845, 11.4%

– South West, £305,173, 14.5%

– Wales, £216,120, 13.7%

– West Midlands, £244,071, 10.6%

– Yorkshire and Humber, £200,469, 9.5%

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