The UK property market showed signs of a slowdown in December last year after annual house price inflation dropped for the second month in a row, says the Office of the Deputy Prime Minister .
Its latest figures suggest annualised house price inflation fell to 8.3% by the end of 2003, from 9.7% in the November. The rate of inflation shed some 3.8% from October.
However, Northern Ireland experienced faster inflation, up from 3.4% in November to 5.9% by December, while England saw inflation fall to 7.7% from 9.2%.
That said, property prices did rise, and the average UK price tag on a house hit £162,689 in December, up from £159,480 in the previous month.
The ODPM says the average price paid by first-time buyers reached a £127,474 in December.IFAonline
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