Home costs within the south-east of England fall for first time since 2011 — enterprise stay – The Guardian


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House prices across Britain have increased at their slowest rate for more than six years, with London experiencing its biggest slump in a decade as Brexit concerns drag on growth.

The Office for National Statistics said average house prices in the UK rose by 0.6% in the year to February, the lowest rate of growth since September 2012, and down from a rate of 1.7% in January.

The price of an average London home fell by 3.8% on the year, the steepest drop since the depths of the last recession in mid-2009, and faster than the 2.2% decline recorded in the year to January.

The consumer price index (CPI) measure of inflation unexpectedly remained at 1.9% in March, unchanged from a month earlier, offering some respite for UK households.

Interest rates on loans for students in England, Wales and Northern Ireland will, however, rise by up to 5.4%, after the March retail price index (RPI) measure of inflation came in at 2.4%.

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