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Average values stagnated in December from the previous month, the groups said in a report published today, though they rose 0.4 percent when London and southeast England are excluded. On an annual basis, house-price growth slowed to 9.6 percent from 10.6 percent. The average house price stood at 278,997 pounds ($422,000).
The research adds to evidence of a cooling housing market. Prices recorded their weakest quarterly growth in two years at the end of 2014, according to mortgage lender Halifax, while Nationwide Building Society said last week that annual growth is at 13-month low.
LSL and Acadata said average house prices dropped in a third of all London boroughs in November, the latest month for which a regional breakdown is available, with Southwark experiencing the sharpest fall, down 3.1 percent.
The number of housing transactions in 2014 was 18 percent higher than
the previous year and the highest since 2007, they estimated.
With the May general election too close to call, the prospect of a “mansion tax” on homes over 2 million pounds should the Labour opposition win has led to a slowdown at the high end of property market, Acadata Chairman Peter Williams said in the statement.
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