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British house prices growth at two-year low: official data

Xinhua, September 15, 2015 Adjust font size:

British house prices increased by 5.2 percent in the year to July 2015, the lowest rate of change since September 2013, said the Office for National Statistics (ONS) on Tuesday.

On a seasonally adjusted basis, prices grew by 0.8 percent, 0.2 percentage points above the June 2015 rate, ONS said in its monthly report.

The average mix-adjusted house price in July 2015 was 282,000 pounds and London continued to be the region with the highest average house price at 525,000 pounds, it added.

"Although weaker, the pace of house price growth remains strong by historical standards," said ONS in its monthly report.

"With improving economic conditions sustaining a recovery in housing demand while supply remains tight, the mismatch between demand and supply continues to support house price growth," it added. Endit