House prices are rising at their slowest pace in five years, led by a sharp slowdown in London and the southeast as buyers reach the peak of what they can afford.
The average price of a home in Britain rose by 3.1% in the year to July to £227,100. This was the weakest pace of growth since August 2013 and continues a steady slowdown since the middle of 2016.
Apart from October last year, every month in 2017 and 2018 has shown annual price growth below 5 per cent.
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