Regional peaks while London slowdown persists
- Six regions set new peak average prices and North West still tops the table for growth
- London and the south-east struggle, but Kensington and Chelsea surges 30% annually
- Bristol, up 8.4% year-on-year, among the major cities still growing strongly
The rate of annual house price growth slowed for the tenth successive month in March to 0.7%, compared to 5.1% a year ago. The average house price in England and Wales is now £301,490, up £130 on a month earlier and just £1,985 up on a year ago.
The market remains starkly divided, however, with prices falling in London and the South East but continuing to grow elsewhere. In fact, six out of the ten regions have recently set new peak average prices.
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents said: “The slowdown in London and the South East is now well established. Yet the performance of many of our key cities and regions elsewhere shows that there’s still life in the market yet.”
Data source: LSL Property Services