House prices jump 9.5% and a London home costs almost a FIFTH more than a year ago – but gains may be starting to slow
Cost of average home jumps £16,000 in just a year
London house prices soar 18.2% as capital’s property market runs red hot
But monthly prices up just 0.4% in March – down from 0.7% in February
At £360k London homes cost double the £180k national average
The cost of the average home has rocketed almost £16,000 in just a year while London house prices are up 18.2 per cent, Nationwide said, but it reported monthly gains easing for the third time in a row.
Rory Penn, partner of London estate agency VanHan, says: ‘Nationwide’s latest data will not completely comfort those worried about a house-price bubble as prices rose for the 15th consecutive month.
‘However, there are signs that growth is moderating with a slower pace in March than the previous two months. This cooling will only be moderate, all things considered, given the continued strong demand from buyers combined with a structural lack of supply.’