House price growth in England and Wales stayed subdued in April, according to new figures, although prices in the West Midlands raced higher.
Property values edged up just 0.1 per cent for the second month in a row, according to the latest data from LSL Property Services / Acadata. The slowdown in price increases is more evident on a quarterly basis, with prices up 0.5 per cent over three months, despite strong employment figures and record low interest rates. The average house in England and Wales is now worth £301,606, up 3.5 per cent year-on-year.
The West Midlands has cemented its position as the fastest growing region, surpassing the East of England, with prices up 0.5 per cent month-on-month and 6.2 per cent year-on-year. House price growth in London, on the other hand, remains subdued with a monthly decrease of 0.1 per cent.
Annually, the capital is the slowest region outside the North East and sits in penultimate place in terms of annual change with just a 1.4 per cent increase.
