North East bucks trend as house price inflation slows

ANNUAL house price growth slowed in August despite values soaring by 6.6% in the North East.

- By Vicky Shaw

The average property inflation rate across the country was 3%, according to the Office for National Statistics’ provisional estimate, down from 3.2% in July.

Typical prices increased to £296,000 (2.9%) in England, £211,000 (2%) in Wales and £194,000 (4%) in Scotland in the 12 months to August.

London was the only English region where property values fell, with a drop of 0.3%.

But the average price in Northern Ireland hit £185,000 between April and June, marking a 5.5% annual increase.