These figures are the latest sign of an improving housing market. Rightmove’s recent house price index indicates that prices were 0.6% up in May.
While some first-time buyers may be concerned about a difficult entry point, various experts have suggested that house price growth may be one of the best reasons to invest in a buy-to-let.
Iain McKenzie, chief executive of The Guild of Property Professionals, said: “Another month of growth for house prices will be welcomed by sellers who were concerned this time last year that their home had lost significant value.
“First-time buyers may be worried that any rise in prices will make the dream of homeownership further out of reach. However, it should be reassuring that if you are in a position to buy now, it is less likely that your home will drop in value after you sign on the dotted line.”
Learn more about how to get into property investment with our updated buy-to-let guides: