House prices in the United Kingdom decreased from last year in March, after growing in the previous month, data released by the Department of Communities and Local Government (DCLG) showed Tuesday.
The house price index dropped 0.4 percent year-on-year in March, reversing the 1 percent growth recorded in February and January's 0.6 percent gain.
Residential property prices in England edged down 0.3 percent year-on-year in March, while prices in Wales rose 0.4 percent. Prices in Scotland and Northern Ireland decreased 0.3 percent and 10.7 percent respectively during the month.
While the average price in the while of UK remained broadly unchanged since the beginning of 2011, Northern Ireland experienced strong falls in prices since 2008, the agency said.
On a monthly basis, house prices decreased a seasonally adjusted 0.6 percent in March, after rising 0.2 percent in the previous month.
by RTT Staff Writer
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