The debate continues about the future of the housing market, with one economist forecasting disaster, while others believe that the average property price will rise this year. These predictions come as house price indices provide evidence of a slowdown. Figures released by the Office for National Statistics and the Land Registry show that average house prices rose by 4.1 per cent in the year to March, the slowest pace of growth since October 2013.
In London, particularly in the prime sector, there has been a marked shift in price gains. The most recent index from Nationwide shows annual growth falling to 1.2 per cent in the capital, the second slowest pace of the 13 UK regions and the weakest rate of growth since 2012.
Robert