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Wednesday, 12 April 2017

UK house price growth slows


A 30 second update...

The average UK house price rose to a fresh high of £217,502 in February 2017.

England prices rose the most, up by 6.3 per cent over the year. 

In Northern Ireland prices were 5.7 per cent higher over the year to February, though the recovery in price growth now seems to have stalled since July 2016. 

Annual price growth was muted in both Scotland (3.1 per cent) and Wales (1.8 per cent). 

The fastest growth was in the East of England (10.3 per cent), with strong price growth also rippling out to the East and West Midlands respectively. 

In London the annual rate of growth slowed to 3.7 per cent, with a wide range of fortunes experienced across the boroughs. 

The number of sales has declined to be almost a third lower since the end of 2015.

Meanwhile, the official UK inflation rate was steady at 2.3 per cent.