LONDON 19 Jun (ANA) - Annual private rental prices in London rose by 0.9% in April, its highest rate since September 2017. The ONS suspects that demand for rental properties is outstripping supply.

 

House prices also fell across the South East of England in April - helping to narrow the gap with the rest of the country.

 

 But despite the recent slowdown, the average London house still costs £ 472,000, followed by the South East (£ 319,000) and the East of England (£ 289,000).

 

The North East continued to have the lowest average house price at £ 131,000 -- still below its 2007 average (before the financial crisis.

 

 There’s not much sign of inflation in Britain’s housing market.

 

The ONS has reported that average house prices in the UK increased by 1.4% in the year to April 2019, down from 1.6% in March 2019.

 

The average UK house price was £ 229,000 in April 2019. This is £ 3,000 higher than the same period a year ago.

 

Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England.

 

London continues to struggle, with prices down by 1.2% year-on-year in April. That’s an improvement on March, though, when prices fell 2.5% compared with March 2018.(ANA)

FA/ANA/19 June 2019-------