Nationwide: House price growth is slowing

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Nationwide: House price growth is slowing

House price growth is slowing across the UK and the north-south gap is increasing, according to new figures from Nationwide.

The average house price in the country is currently £183,959, the data states, while the annual percentage increase is 6.9 per cent.

For the seventh quarter in a row, London experienced the most rapid rate of yearly house price growth in England and has held its position as the most expensive region, according to Nationwide.

Northern Ireland had the fastest rate of growth in the UK.

At the same time, the north has been revealed as the least expensive region in which to buy a house, while Yorkshire and Humberside is the region which has exhibited the weakest price growth.

Commenting specifically on the forecast for house prices in the capital, Nationwide chief economist Fionnuala Earley said: "Looking into 2008 we expect a much less buoyant housing market in the capital, which is probably at greatest risk from the financial market turmoil than any other part of the UK."

Nationwide offers a wide variety of financial products.
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