England/Wales house price growth eased to a 21-month low in August, data from Land Registry showed Monday.
House prices advanced 4.2 percent year-on-year in August, which was the slowest growth since November 2013, when it climbed 3.5 percent. In July, house prices rose 4.6 percent and by 4.9 percent in June.
Month-on-month, house prices grew only 0.5 percent in August, slower than the 1.7 percent increase seen in July.
The average house price in England and Wales totaled GBP 184,682.
In London, house prices logged a monthly increase of 1.7 percent. At 6.6 percent, the annual increase for London was higher than most other regions.
IHS Global Insight Economist Howard Archer expects house prices to see solid increases over the coming months amid firm activity.
Higher interest rates are unlikely to have a major dampening impact on housing activity for some time to come as the Bank of England is stressing that interest rates will only rise gradually and to a limited extent, he said.
The material has been provided by InstaForex Company – www.instaforex.com