The number of home movers has reduced by -2% creating a shortage of properties for first time buyers and higher prices.
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Properties in the East of England are up 7.2% over the year with the fastest growth while London has falling prices over the month.
Homeowners living close to Olympic Park have gained with property prices up 64% in five years outperforming the London average.
The London borough of Hackney is the fastest growing region in the last 20-years based on square metres with house prices up eight-fold.
House price growth in London has dropped to 2.6% matching inflation while other cities are resilient with over 5% increase for the year.
Property values in the UK continue to rise 4.7% in the year despite economic uncertainty while London growth rate reduces noticeably.
Mayor Sadiq Khan has criticised Wandsworth Council for allowing the Battersea development to cut the number of affordable homes.
Strong demand from first time buyers continues as the price paid for homes reaches record highs in London across the country.
After recent falls house prices have rebounded with the smallest gap between best and worst performing regions on record.
Homebuyers can expect tougher affordability tests from lenders when applying for mortgages as Bank of England acts over easy borrowing.