HOUSE PRICE GROWTH AT LOWEST RATE IN MORE THAN FIVE YEARS
HOUSE prices increased at their slowest annual rate in more than five years in December, according to official figures.
Across the UK, property values increased by 2.5% in the year to December – the lowest annual rate since July 2013 when there was 2.3% growth.
The figures were released jointly by the Office for National Statistics (ONS), the Land Registry and other bodies.
There were variations across nations and regions, with price growth topping 5% in Northern Ireland, Wales and the West Midlands, while the North East of England and London saw values slide lower.
The average UK house price was £231,000 in December.
Over the past two years, there has been a general cooling in price growth, driven mainly by a slowdown in the south and east of England, the report said.
Prices increased by 5.5% in Northern Ireland, 5.2% in Wales, 2.4% in Scotland and 2.3% in England.