House price inflation slowing
The rate of annual house price inflation fell to 8.7 per cent last month, according to a report published today.
Figures compiled by the Land Registry show that in the previous four months the average rate of yearly house price inflation was 9.3 per cent, but fell during September.
They also revealed the average price of a residential property in England and Wales is now £183,896.
London lost its place as the region with the highest rate of price increases to Yorkshire and Humber, where property prices climbed by two per cent during September, but the capital still has the country's highest average house price at £354,272.
Prospective first-time buyers struggling to afford a mortgage were given some hope with the news that prices actually fell slightly in the south-east, south-west, east Midlands and West Midlands.
Meanwhile, new research by Halifax has discovered there are now around 600,000 homes in England and Wales worth more than the new combined inheritance tax threshold of £600,000.
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