Average house prices in the UK increased by 1.4% in the year to April 2019, down from 1.6% in March 2019, according to the Office for National Statistics.

Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England.

The lowest annual growth was in London, where prices fell by 1.2% over the year to April 2019, up from a fall of 2.5% in March 2019.

The average UK house price was £229,000 in April 2019. This is £3,000 higher than the same period a year ago (April 2018). On a non-seasonally adjusted basis, average house prices in the UK increased by 0.7% between March 2019 and April 2019, compared with a rise of 1.0% in average prices during the same period a year earlier (March 2018 and April 2018).

On a seasonally adjusted basis, average house prices in the UK decreased by 0.2% between March 2019 and April 2019.

The regional data for England indicates that:

• The North East experienced the greatest monthly price rise, up by 5%;
• The West Midlands saw the most significant monthly price fall, down by 0.2%;
• East Midlands experienced the greatest annual price rise, up by 2.9%; and
• London saw the largest annual price fall, down by 1.2%

teve Seal, director of sales & marketing at Bluestone Mortgages, said: “It’s good that house prices are not rising like they used to. With the North/South divide correcting itself, low interest rates, Government schemes, and annual house price inflation more aligned with wage growth – many first-time buyers are stepping onto the property ladder. Some with as little as a 5% deposit.

“However, for those who have suffered a financial bump, getting onto the ladder is easier said than done. Many will feel homeownership is out of the reach if they have been turned away by a high-street lender. A missed credit or bill payment can leave a mark on a credit score, but this shouldn’t disqualify an individual from securing lending altogether. A one-off explainable event is not a repeat occurrence.

“Our research found 94% of mortgage brokers would refer their client to a specialist lender if they had been rejected by a mainstream lender. With so many brokers aware, it’s clear that the industry should be doing more to point these types of borrowers in the direction of intermediaries for advice.”