‘House prices slowing’
The rate of increase in house prices slowed slightly in February, according to the Office of the Deputy Prime Minister (ODPM). The annual inflation rate was down from 4.3% in January to 3.6% in February.
The ODPM figures contradict surveys from Nationwide and Halifax, which have both pointed to marked improvement in house prices this year. “This is because the indexes are compiled in different ways,” said Essex-based estate agent John Cornell. “Essentially, house prices are looking very positive this year.”
According to the ODPM, house prices remained static in the East of England, a conclusion that Cornell finds contrary to his experience. “Prices have been climbing steadily here for four or five months. I always take these surveys with a pinch of salt,” he added.