The Office for National Statistics has revealed that, in the year to December 2018, average house prices in the UK increased by 2.5%
- This is the lowest annual rate since July 2013 when it was 2.3%.
- Over the past two years, there has been a slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England.
- The lowest annual growth was in the North East, where prices fell by 1.0% over the year to December 2018
- This was followed by London where prices fell 0.6% over the year.
- Average UK house prices during December 2018 stood at £231,000 – a rise of £6,000 when compared to December 2017.
- The West Midlands shows the highest annual house price growth in England with prices increasing by 5.2%.
- East Midlands and Yorkshire and The Humber (both increasing by 4.2%).
- The slowest annual house price growth was the North East, where prices fell by 1.0% over the year