Despite the property market slowing down this year house prices have unexpectedly rebounded including expensive London.
The housing market has recorded its third consecutive monthly fall in house prices for May, the first time this has occurred since 2009.
Manchester house price growth leads the UK while there is a material slowdown in the most unaffordable cities such as London.
Property price growth in London have reduced and is now 3.7% over the year in contrast to a rise in prices on average in the country.
The rate of house price growth as reduced to 6.2% in a year even though moderate UK demand continues to exceed supply.
Greater proportion of cash buyers are helping to keep house prices rising as outright home owners now exceed those with mortgages.