ONS report signs of a slowing market

Key points from the Office of National Statistics House Price Data for Feb 2015 are -

• Prices up 7.2% on the year, slowing from  the 8.4% figure in Jan.
• Annual inflation now 7.4% in England, 1.1% in Wales, 6.4% in Scotland and 14.2% in Northern Ireland.
• Annual house price growth is showing signs of slowing across the majority of the UK.
• Biggest increases in the East at 10.7% and in London of 9.4%.
• Excluding London and the South East, UK house prices increased by just 5.9% on the year.
• On a seasonally adjusted basis, average house prices increased by 0.6% between January and February 2015.
• First-time buyers paid 7.4% more on average than in Feb 2014. 
• Owner-occupiers (existing owners), paid  7.2% more 7.2% than Feb 2014.

7.2% rise in UK house prices in the year to Feb, down from 8.4% in Jan http://t.co/fEwWxQAbDv
— ONS (@ONS) April 14, 2015

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