Property market in England and Wales sees lowest price growth since 2013

Prices in England and Wales, excluding new build, fell by 1.4% month on month in March and were down 2.6% on a quarterly basis to an average of £254,196, according to the latest index. Year on year prices fell by 2.9%, the lowest annual figure since 2013, the data from the London Central Portfolio index shows. Sales also fell. Annual transactions were down by 0.8% and quarter on quarter they fell by 14%. In the new build market prices increased by 3.6% to £307,692, a 15.1% premium over existing stock and sales increased by 5.2% year on year but quarterly they were down significantly by 24.3%.