Sharp slowing in house price growth

The 5.5% annual rate of growth is less than half that seen last summer

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Estate Agents For Sale Signs And Residential Properties As U.K. House-Price Growth Slows

House prices fell by 1.3% month on month in April, taking the average value to £271,000, according to an official report.

On a year-on-year basis, prices increased by 5.5% in April, slowing down sharply from a 9.6% annual rate of growth recorded across the UK in March, the Office for National Statistics (ONS) data showed.

The 5.5% annual rate of growth is less than half that seen last summer and is the lowest rate recorded since December 2013.

The ONS report said: "The pace of annual house price growth fell across the majority of the UK in April 2015."

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