London house prices continue to slow, official data shows, as house price growth in the capital falls well behind other UK regions.
Figures released from the Office for National Statistics today showed annual house price growth in London slowed to just 2.5% over the year to September, down from 2.7% in the prior month.
It meant that average London house prices fell for the second consecutive month, to stand at £484,000.
While still well ahead of the regions with the next highest average prices – the South East and East of England are on £324,000 and £289,000 respectively – the capital is trailing all other regions in percentage growth terms over the year to September.
Nationally, prices rose 5.4% in the year to September, an improvement on the 4.8% growth rate registered in August.