House price inflation slows by half
30 November -0001
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Annual house price inflation slowed sharply this april aggording to the latest figures from the office of the deputy prime minister.
Prices rose by 6.9% in the year to April, the ODPM said, compared with annual growth of 12.6% in March.
That sharp slowdown was largely due to a 0.8 pct decline between March and April compared with the 4.5 pct rise seen over the same month in 2004.
The Nationwide's latest survey said annual price inflation had fallen to 5.5% in May - the slowest rate since August 1996, while the Halifax said inflation was 5.7% - its lowest measure for four years.
Annual price inflation in the capital stood at 2.7 pct in April, down from the 9.8 pct recorded in March.
The main reason behind the monthly fall was a 3.5 pct fall in the price of detached houses.
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