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House price growth slows further in April: UK HPI

The figure is supported by strong growth in Wales of 6.7%, up from 3.9% in March 2019

Average house prices in the UK increased by 1.4% in the year to April, down from 1.6% in March, according to the latest UK House Price Index from the Land Registry and the ONS.

The figure is supported by strong growth in Wales of 6.7%, up from 3.9% in March 2019. This strengthening in the annual growth rate for Wales is due to both strong growth between March and April (2.4%) and falling prices (0.3%) between March and April 2018. Falling prices last year can be linked to Land Transaction Tax replacing UK Stamp Duty Land Tax in Wales from April 2018.

The average house price in England increased by 1.1% over the year to April 2019, down slightly from 1.3% in March 2019. House prices in Scotland increased by 1.6% in the year to April 2019, down from 3.5% in the year to March 2019.

Northern Ireland house prices increased by 3.5% over the year to Q1.

By region, the lowest annual growth was in London, where prices fell by 1.2% over the year to April 2019, up from a fall of 2.5% in March 2019.

The East Midlands was the English region with the highest annual growth, with prices increasing by 2.9% in the year to April 2019. This was followed by the North West, with prices increasing by 2.6%.

On a non-seasonally adjusted basis, average house prices in the UK increased by 0.7% between March and April, compared with a rise of 1.0% in average prices during the same period a year earlier. On a seasonally adjusted basis, average house prices in the UK saw a monthly fall of 0.2%.

 

Source: www.financialreporter.co.uk