UK house prices up 4.4% but economists warn slowdown is underway

Average UK house prices rose 4.4% to £225,000, new official figures show, but economists warned a slowdown in the property market is underway. Prices in London fell 1% in the year to February 2018 the Office for National Statistics revealed on Wednesday. The Times added that house prices in London are predicted to fall significantly over the next two years after its property market was officially declared in decline after the 1% decline in February. The capital has not recorded an annual decline since the slump in 2009 that followed the banking crisis. Month on month, prices across the UK were up 0.2%. The official measure of house price growth has recently begun to reflect the slowdown noted in other closely watched statistics. Click here for the full Independent article Click here for the full Times article (£)