Average house price in Newham slides again after record February
The average house price in Newham fell for the second month in a row to £382,016 in April. - Credit: PA Wire/Press Association Images
The average house price in Newham fell for the second consecutive month in April after a record peak in February, new figures reveal.
However, the average of £382,016 in April was still the fifth highest on record, £14,728 higher than a year earlier (£367,288), according to the Office for National Statistics (ONS).
The top five average house prices in the borough since records began in 1995 have all been in the five months from last December to April this year.
The then-record of £387,427 in December continued to rise over the next two months to a new high of £392,988 in February, before a marginal decrease in March (£392,543).
That downtick ended five consecutive months of house price growth from October last year.
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In the UK, the typical property value fell by £5,000 to £251,000 in April after also reaching a record high in March, ending 11 months of consecutive growth.
London had the lowest annual growth (3.3 per cent) of any region for the fifth consecutive month.
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ONS head of economic statistics Sam Beckett said: "Last month's figure was probably inflated as buyers rushed to complete purchases because the tax breaks on housing transactions were initially due to conclude at the end of March.
"House prices continued to increase when compared with last year, with London once again showing the lowest annual growth, with the slowing of prices most apparent within inner London boroughs."
