London recorded the slowest rate of annual house price growth of any UK region in 2022, new data has revealed, while prices began to take a dip in the fourth quarter as rising mortgage rates and squeezed incomes pushed up the cost of getting a new home for first-time buyers.
House prices in the capital grew just 5.2% over the last year to the end of November, data from the Halifax UK Housing Market Review has found, while the North East of England saw the highest rate of annual property price inflation of any UK region or nation in the year to the end of November 2022 at 10.5%.
