Mike Smuts February 15, 2019 Uncategorized no responses
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