The UK house price inflation rate fell from 14.3% annualised in July to 13.6% in August, house price...
The UK house price inflation rate fell from 14.3% annualised in July to 13.6% in August, house price figures from the Office of the Deputy Prime Minister reveal.
The fall in inflation was due to a rise of only 1.2% in prices between July and August, compared with a rise of 1.8% over the same period last year.
Annual house price inflation in London was 6.5% in August, down from 8.4% in July.
The rise in UK prices between July and August was broad-based, with similar rises in prices for detached properties, semi-detached, terraced houses and flats, all in the region of 1%.
All the home countries saw a fall in the annual house price inflation rate. In England it fell from 13.4%pa in July to 12.9%pa in August, and inflation in Scotland fell from 22.3%pa to 20.2%pa over the same period.
Inflation in Wales remained high, even though it fell from around 30.4%pa in July to 27.6%pa in August, while annual inflation in Northern Ireland fell from 14.4%pa in July to 10.9%pa in August.
The average house price in the UK in August stood at £179,486, up from £177,474 in July. The English region with the highest average house price in August was London at £265,320. The lowest average price was in the North East at £128,854.