Capital prices see first annual drop since 2009

Data from the Office for National Statistics shows London house prices fell 1% on the year in February, the first decline since September 2009. The average value of a home in the capital dropped to £471,986. The official data comes after surveys also reported a fall in London prices. According to research from the Royal Institution of Chartered Surveyors, a net balance of 47pc surveyors had seen prices in the city fall. The ONS figures show that the average amount paid for a house in the UK was £225,000 in February - a 4.4% increase, which marks a dip on the 4.7% recorded in January.

The Daily Telegraph (18/04/2018)