The data shows that this slowdown in UK house price growth over the past two years is driven mainly by a slowdown in the south and east of England. Ishaan Malhi, CEO and founder of Trussle, added: “The slow house price growth in the market reflects the impact of financial uncertainty prompted by Brexit, high inflation and rising living costs.
Average UK house prices increased by 3.1% in the year to July, down from the 3.2% recorded in June to the lowest annual rate seen since August 2013 when it was 3.0%, according to the latest UK House Price Index from the ONS and Land Registry. The data shows that this slowdown in UK house price growth over the past two years is driven mainly by a slowdown in the south and east of England. The lowest annual growth was in London, where prices decreased by 0.7% over the year, down from an increase of 0.3% in the year to June 2018. The North West showed the highest annual growth, with prices increasing by 5.6% in the year to July 2018. This was followed by the South West and West Midlands regions (both 4.4%).
http://www.financialreporter.co.uk/finance-news/house-price-growth-falls-to-five-year-low-ons.html
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