House prices in Swindon declined by 0.6 per cent, in May, despite witnessing a five per cent rise over the past 12 months.

The latest data from the Office of National Statistics shows that the average property sold for £215,916 - slightly under the UK average of £226,351.

Across the south west, property prices have risen by 3.9 per cent in the last year, to £251,877. The region outperformed the UK as whole, which saw the average property value increase by three per cent.

The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.

The average homeowner in Swindon will have seen their property jump in value by around £67,000 in the last five years.

The figures showed that first-time buyers in Swindon in May spent an average of £185,956.

That’s around £57,000 more than it would have cost them five years ago.

Richard Snook, senior economist at PwC, said forecasts suggest the average UK house price could rise to around £285,000 by 2025.