Housing prices in the UK rose in February at the weakest pace in 7 years

The housing market of Great Britain recorded in February the slowest price growth rate in 7 years in annual terms. As reported by the Office for National Statistics, housing prices in the country rose by 0.6% in February after an annual growth of 1.2% in the previous month. The slowdown in growth was due to the sharpest fall in housing prices in London since summer of 2009, where the figure fell by 3.8%. In annual terms, housing prices in the UK capital had been falling for the past 12 months, which is the longest period of decline over the past decade. The British Bank of England is adversely affected by measures taken to limit risky mortgage lending, as well as uncertainty about future relations with the EU after Brexit..

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