LONDON, April 17 (Reuters) – – British house prices rose in February at the weakest rate in six-and-a-half years, dragged down by the biggest slump in London for a decade as Brexit uncertainty sent chills through the market.
Official data on Wednesday also showed consumer price inflation unexpectedly held just below the Bank of England’s 2 percent target in March, offering some relief to consumers whose spending has helped Britain’s economy through the Brexit crisis.
House - Prices - Percent - February - Year
British house prices stood 0.6 percent higher in February than a year ago, slowing sharply from a 1.7 percent annual rise in January, the Office for National Statistics said.
In London, house prices plunged by 3.8 percent on the year — the biggest drop since mid-2009. The malaise in the capital spread to the south-east of England, where prices fell for the first time since 2011.
Surveys - Brexit - Drag - Property - Market
Other surveys have shown Brexit to be a major drag on the property market in the capital, which is sensitive to flows of migrant workers...
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