UK house prices up 4.1% yoy in March

BRITISH house prices rose by 4.1 per cent in the 12 months to March, the Office for National Statistics (ONS) said on Wednesday (May 24), slowing from February’s upwardly revised 5.8 per cent rise.

London was the region with the slowest annual growth, the ONS said, with prices in the capital up 1.5 per cent.

More recent gauges of Britain’s housing market have shown a mixed picture. Mortgage lender Halifax earlier this month said that house prices grew at the slowest annual pace in over 10 years in April. But rival Nationwide said prices increased by a monthly 0.5 per cent in April, after falling for the seven previous months. REUTERS