Annual house price growth slows in September

Jessica Nangle

October 16, 2017

Annual house price growth slowed to 1.3% in September according to the latest Your Move House Price Index.

The average price at the end of the month in England and Wales was £297,287, up £3,890 at the same time last year.

The North is proving more resilient, while price growth has slowed in Southern regions.

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Oliver Blake, managing director of Your Move and Reeds Rains estate agents, said: “Despite slowing price growth, particularly in the southern regions, the North continues to report positive results.”

Almost 90% of the unitary authority areas have recorded price rises over the year, and of the 15 areas where prices have fallen, a third are in the South East.

The authority with the largest reduction in prices is Wokingham, where values have fallen by 6.9%.

Whilst price growth in Wales remains slower than in the fastest growth regions, the report shows it has picked up and is now above the average of England and Wales.

In Greater London prices fell by 0.8% in August to take the average down 0.7% on the same time last year, with prices still up 0.5% annually in Kensington and Chelsea and up 13.5% in the City of London.

Blake added: “The future will rely heavily on stock availability and with housing clearly on the political agenda, what government support may be offered to those looking to buy and who will ultimately influence market activity.”

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