The new North-South divide
- Annual change in house price growth lowest for seven years
- Transactions fall 2.4% in 2018
- More than two third of local authorities still report annual growth
Prices rose again in December – for the fifth month in a row – up 0.3%, or £875. Annual price growth continued to slow, however, and stands at its lowest level since April 2012, at just 0.6%. CPI inflation for November (the latest figure available), meanwhile, was more than three times this figure, at 2.2%, meaning house prices are falling in real terms.
In nominal terms, however, average house prices are up by £1,690 over the last twelve months, meaning the average property price in England and Wales at the end of the year stood at £306,647.
Data source: LSL Property Services