11
Apr
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.