11 Apr

Prices 'static' in March

Prices 'static' in March

There was no change in UK house prices seen in March, according to data released by the Financial Times (FT) on its house price index.

Year-on-year inflation in the month stood at 5.4 per cent, it revealed, lower than the 6.1 per cent witnessed in February.

But inflation continued to be higher in London, with 12.3 per cent recorded in the greater London area, it said, double the national average.

Acadametrics compiles the index for the FT and chairman of the body Peter Williams said that growth is starting to dip in these areas anyway.

"London, the south-east and the south-west have now recorded seven monthly falls in the annual rate of price inflation - together they make up over 40 per cent of the market," he commented.

There is still demand for property, he added, because of an economic situation that is fairly healthy.

By contrast, Halifax said earlier this week that house prices had dipped by 2.5 per cent in March.ADNFCR-1222-ID-18548639-ADNFCR

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