House prices in England and Wales climbed at the slowest annual pace in 15 months during March, figures from the Land Registry revealed Thursday.
The house price index rose 5.3 percent year-on-year following 6.1 percent gain in February. The latest gain was the smallest since January 2014, when prices climbed 4.8 percent annually. House price inflation eased for a seventh successive month in March.
Month-on-month, house prices declined 0.8 percent following 0.3 percent gain in the previous month. It was the first decline since October last year, when prices fell 0.3 percent.
The average price for a property was GBP 178,007 in March, down from GBP 179,510 in February.
London logged the biggest increase in its average property value over the last 12 months, at 11.3 percent. South East registered the biggest monthly rise among regions with 0.8 percent inflation.
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