UK house price growth slowest in 6 1/2 years

By Leith van Onselen

Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its slowest level since April 2012, falling in real terms:

House prices largely continue to flatline, and the rate of annual growth has fallen consistently since August. It now stands at just 0.9%, well below the rate of inflation, and the lowest since April 2012. It leaves the average price in England and
Wales at £305,522, up £2,724 on the same time last year.

Despite weak price growth, transaction levels rose slightly in November, up 2.5% on a seasonally adjusted basis. With an estimated 82,500 sales, they are at their highest for the month in three years…

The average price in London rose 1.3% in October to remain 0.8% up on the same month last year – nominal growth but a real fall compared to inflation. The average house in the capital was priced at £622,508…

Transaction volumes are flat year-on-year:

Thus, the UK housing market appears to be on a fragile footing.

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