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British house prices rise 5.5 percent in April

Staff writer |
British house prices increased by 5.5 percent in the year to April 2015, down from 9.6 percent in the year to March 2015, according to official data.

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On a seasonally adjusted basis, average house prices fell by 1.3 percent between March and April 2015, said the Office for National Statistics (ONS).

The average mix-adjusted house price in April 2015 was 271,000 pounds (423,248 U.S. dollars) and London continued to be the region with the highest average house price at 493,000 pounds, said an ONS statement.

"One of the largest drivers of this fall was the sharp weakening in London's annual house price growth, where house prices grew at a slower annual rate than the UK average for the first time since February 2006," it said.

"This easing is reflected in a number of indicators of the housing market, which suggest demand and supply are now more balanced than in recent months," it added.

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