SAB - the property specialists

Leading Cambridgeshire, hertfordshire
and London property specialists since 1959

News

December 17, 2014

House Prices Cool

House prices cool
UK house prices rose at their slowest pace for seven months in October, according to the latest figures from the ONS. Average house prices increased by just 0.1% over the month to £271,000. The figures show that annual house price inflation across the country cooled to 10.4% from a seven-year high of 12.1% in September. Brian Murphy, head of lending at Mortgage Advice Bureau, said: “House prices have experienced a slight slowdown in recent months, with seasonal variations as well as tighter mortgage regulation reining in property prices. However, average prices are still well up on last year, with the UK as a whole experiencing double-digit growth.” London house prices grew by 17.2% in the 12 months to October, although this was a slowdown compared with 18.8% growth in the year to September. Including London and the south-east prices grew by 6.7% in the year to October, the ONS said. Elsewhere, LSL Property Services reported that the average price of a home in Scotland rose 0.7% in October from the previous month.