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Rate of annual house price growth slows in all UK regions

• Annual house price growth slows across the whole of the UK in final quarter of 2007

• The ripple effect is still evident as the North-South gap widens by ?15,000 in 2007

• Northern Ireland saw the biggest slowdown in annual house price growth while the West Midlands was the most stable region

• London saw fastest rate of annual house price growth in England for the seventh consecutive quarter

• Northern Ireland and Yorkshire & Humberside saw price falls during the final quarter

Quarterly Index - Headlines Q4 2007 Q3 2007

• Average price ?183,959 ?184,131

• Annual change % 6.9% 9.3%

• Quarterly change % * 1.0% 1.6%

* seasonally adjusted

Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said:

?The annual rate of house price growth slowed in every part of the UK in the final quarter of 2007, bringing the average rate in the UK down from 9.3% to 6.9%. Price growth in Northern Ireland slowed most rapidly with the rate of growth falling to 24.2% from 42.6% in the third quarter. However, annual house price growth in the Province was still faster than anywhere else in the UK and almost twice as fast as the second fastest region, London."

by: Editor

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