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UK house prices increased at a slower rate than previous months in March, according to new figures from the Office for National Statistics.
The ONS said that the average UK house price increased by 4.1% in the 12 months to March 2023. This was down from the 5.8% annual increase recorded for February.
The reading was lower than FXStreet-cited market consensus of 7.6%.
The average UK house price was £285,000 in March 2023, which is £11,000 higher than 12 months ago, but £8,000 below the recent peak in November 2022.
The South West saw the highest annual percentage change of all English regions in the 12 months to March 2023, increasing by 5.4%. Meanwhile London saw the lowest, up 1.5%.
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