Sunday, 07 August 2022

UK house price growth is continuing to slow

HOUSE price growth slowed again in October — the latest month for which figures are available — after London’s sluggish market dragged down the national average.

UK property values increased by an average of 4.5 per cent in the 12 months to October 2017. Looking at the overall picture, the East Midlands represented the fastest individual area of growth — having racked up an annual increase of seven per cent compared to London’s 2.1 per cent.

The figures have prompted some experts to suggest that the housing market is not currently well placed to cope with higher interest rates.

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