Further evidence of a London house price slowdown was shown in the December house price index from the UK government.
December growth across the UK slowed marginally from 9.9% year-on-year in November 2014 to 9.8% in December, driven by a sharp decline in London price growth.
While London remained a good place to invest, with growth of 13.3% year-on-year pushing the average house price to £502,000, this was markedly lower than the 15.2% of November.
This figure is the lowest increase since January 2014 and the sharpest deceleration of any region except Northern Ireland.
By contrast other regions saw a less marked slowdown. The South West in particular saw price growth accelerate to 8.8% from 6.3% in November.
Stripping London out of the price index, prices in the UK increased 7.4%.
