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Financial News: UK House Price Inflation Weakest In 13 Months

UK House Price Inflation Weakest In 13 Months

06/13/2018 - 05:59:00 (RTTNews)

(RTTNews) - British house price inflation eased further in April to the lowest level in just over a year, figures from the Office for National Statistics showed Wednesday.

The house price index climbed 3.9 percent year-over-year in April, slower than March's 4.2 percent rise.

The average UK house price was GBP 227,000 in April, which was GBP 9,000 higher than in the same month of the prior year and GBP 3,000 lower than a month ago.

The main contribution to the increase in UK house prices came from England, where house prices rose by 3.7 percent over the year to April 2018.

House prices grew 4.4 percent in Wales and a 5.6 percent rise seen in Scotland.

On a regional basis, London remained the region with the highest average house price at GBP 485,000, followed by the South East and the East of England.

On a monthly basis, house prices increased 1.2 percent at the start of the second quarter

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