House price growth slows but remains high

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HOUSE price growth has slowed over the last three months, led by a deceleration in London and other high value cities across the south of England, according to the latest figures.

The Hometrack UK Cities House Price Index revealed the annual rate of house price inflation across the 20 cities slowed to 9.5 per cent in July after 12 months of higher growth.

The shift was due to growth stalling across a number of cities in southern England over the last quarter.

In the three months to July house prices in London rose by just 2.1 per cent, the lowest quarterly rate since February 2015. Prices in Portsmouth slowed to 2.6 per cent, although prices are 8.9 per cent higher than last year. Bristol, which is the fastest growing city over the last 12 months, saw growth slow to 2.6 per cent from a recent high of five per cent in May 2016.

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