Houses price inflation 1.1% in past year

House price increases in Wales have been slowing down, with just 1.1 per cent yearly inflation in the country over the past 12 months, official data has revealed.

Latest house price inflation statistics from the Office for National Statistics revealed that although UK house prices increased by 7.2 per cent in the year to February 2015, this was still down from 8.4 per cent over the year to January 2015.

House price annual inflation was 7.4 per cent in England, 6.4 per cent in Scotland and 14.2 per cent in Northern Ireland.

The ONS claimed annual house price growth was showing signs of slowing across the majority of the UK.