House prices are up 3.5% but London values drop
HOUSE prices in England are growing at a slower annual rate than those in the rest of the UK as property values in London continue to fall, official figures show.
Across the UK, house prices increased by 3.5% in the year to September to reach £ 233,000 on average, figures released jointly by the Office for National Statistics ( ONS), Land Registry and other bodies show. Prices were unchanged monthon- month.
Annual house price growth in England was slower in September than that in Scotland, Wales and Northern Ireland, the report said.
House prices in England increased by 3% in the year to September, taking the average property value there to £ 249,000.
In Wales and Scotland, house prices increased by 5.8% annually, taking average prices in Wales to £ 162,000 and those in Scotland to £ 153,000. House prices in Northern Ireland increased by 4.8% over the year to £ 135,000 on average.
Within England, house prices in London fell by 0.3% annually. London house prices have fallen over the year each month since March 2018.