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Annual growth slowing as market 'pauses' for summer break

Annual house price growth slowed in July, according to the latest figures from LSL Property Services.

Last month, annual growth dipped by 0.2% to 2.9% - the lowest level recorded since July 2013.

Betweem June and July the average property increased in value by over £8,000.


LSL calculates that the average house price in England and Wales is now £298,906.

Regionally, the East of England leads the way, with annual price growth of over 5%.

Meanwhile, the London borough of Lewisham recorded a new peak price last month, up 2.4%.

“Annual prices are still rising positively and regions continue to perform strongly – despite the slowdown in transaction numbers over the summer months," says Oliver Blake, managing director of Your Move and Reeds Rains estate agents. 

“Whilst, as a business, we often see this at this time of year, the cause of the dip may also be down to the buy-to-let slowdown as a result of tax changes," he adds.


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