London housing prices appreciated by 14% last year (low income, house prices)

[Trafalgar Law]

A new more accurate measure put the average price of a London house at more than £470,000, up almost £60,000 on the same time last year.

But despite the large jump in prices, experts said the rate of increase had slowed slightly with uncertainty caused by the EU referendum to blame.

It comes as a London MP leads a debate in parliament claiming government policy has unduly inflated prices beyond the reach of nurses, teachers and people on low incomes.

There was also a small boost to consumer purchasing power as inflation defied expectations of a small increase in May and remained stable at 0.3 per cent.

Today was the first time the government published the new UK House Price Index, which replaces two previous measures.

Under the new system London showed higher annual growth than any region, with prices increasing 14.5 per cent in the year to April.

London house prices 'up by 14pc in a year' but rises are slowing due to EU referendum fears | London | News | London Evening Standard

Not really a surprise but London and its surroundings had the highest price gains in the United Kingdom.

[nograviti]

We all know prices in London are very high. I think their ascent has been dampened by the Brexit vote..