House Price Inflation

According to the Land Registry, the house price inflation in England and Wales slowed down in July. The recent survey it carried out recently shows that the increase was only 0.1% in July. This is claimed to be the lowest during the previous 13 months. As a result the house price inflation has dropped down to 8.8% from 9.1%.
London and the South East seem to be still leading the price increases; keeping the rate divergence between London and the rest of the country.
Some experts argue that the recent 5 increases in interest rates by the Bank of England is paying dividends in slowing the house price increases down.