The Office for National Statistics data showed average house prices in the UK increased by only 1.7 per cent in the year to January 2019, down from 2.2 per cent in December 2018. That’s the lowest annual rate since June 2013, when it was 1.5 per cent. And this is largely due to the south and east of England – property values in London fell by 1.6 per cent in the year to January. That means prices are now dropping twice as fast as they were in the year to December.
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