UK house price growth slows to 3.5% in April - ONS

(Alliance News) - Growth in UK house prices eased in April, according to official data on Wednesday.

The Office for National Statistics said that UK house prices grew 3.5% year-on-year in April, which was higher than FXStreet-cited market consensus of 2.5%.

However, it shows growth slowed from the 4.1% annual rise seen in March. House price inflation's recent peak was 14% annually last July, ONS noted.

The data comes from HM Land Registry records.

The average UK house price was GBP286,000 in April, which was up GBP9,000 from a year before. It was around GBP7,000 lower than the peak in September 2022.

In terms of geography, growth was strongest in England, 3.7%, and Northern Ireland, 5.0%. In Wales and Scotland, the pace of price increases lagged, at 2.0%.

By Elizabeth Winter, Alliance News senior markets reporter

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