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House prices see lowest annual increase since 2012

Average prices in England and Wales rose by just 0.2%, or £90, in December, according to the latest Your Move data.

The annual growth rate fell from 0.9% in November and is the lowest annual increase Your Move has recorded since March 2012. However December marked the second month in a row that prices rose after several monthly falls, and increases have been seen across the majority of regions.

Much of the market’s struggles in the last year can be traced to the capital. London is the first region in England & Wales to see annual prices fall, with transaction levels down 3% in 2017. Excluding London and the South East, growth for the rest of England and Wales remains at 3% for the year, which continues to beat inflation of 2.8%.

Bristol saw the strongest rise with prices up 8.9%, while the South West saw prices increase 5.3%.

Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents, said: “The end of 2017 was relatively quiet for house movers, particularly in the capital. Outside of London however, the majority of regions still reported growth over the month.”

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