UK Money News
1st April 2008
Annual house price growth slowed in February
The rate of annual house price inflation dropped during February, according to the latest figures from the Land Registry.
The government's house price index indicates that the annual growth rate for house prices dipped to 5.3 per cent during the period.
The downturn was prompted by static monthly growth, which left the average price of a home unchanged at £185,616.
South Wales was named by the Land Registry as the area where prices dropped the most, with the area suffering a decline of 1.1 per cent.
The west Midlands, meanwhile, saw the most marked increase, with the price of a home up by 1.3 per cent during the period.
News of the study's findings comes after earlier this month Nationwide downgraded its projection for annual house price growth in 2008.
Previously it has predicted that prices would remain static, but now forecasts a "modest fall" in prices.
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