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House price growth shows a significant slowdown

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7th Apr 17 9:45 am

These are the figures

In the year to March the growth in house prices across the UK showed a significant slowdown, this is according to the country’s biggest lender.

According to the Halifax, prices managed to rise by 3.8 per cent, this is the lowest rate since 2013. This was also down from 5.1 per cent in the year to February.

As well as this the inflation rate is now less than half of what it was a year ago.

The Halifax said prices had been flat since February.

It also said the average price of a home in the UK now sits at £219,755.

Martin Ellis, Halifax’s housing economist, said: “The annual rate of house price growth has more than halved over the past 12 months,”

“A lengthy period of rapid house price growth has made it increasingly difficult for many to purchase a home, as income growth has failed to keep up, which appears to have curbed housing demand.”

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