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House price growth across the UK slowed down in 2017

Growth in house prices in the UK slowed down in 2017, according to the latest figures from the House Price Index.

The annual growth rate for 2017 was 4.8%, compared with 7% in 2016. On a calendar year basis, that is the lowest rise since 2013. The figures showed a wide variation in growth rates in different regions and counties across the UK.
The sharpest drop was in the south of England, which fell from a growth rate of 9.5% in 2016 to 5.1% in 2017.

The slowdown was most evident in London. The capital city has traditionally seen the highest growth rate. However, last year saw average growth across the UK exceed that of London.
Despite this, London remains the most expensive region of the UK, with an average house price of £484,000. The UK average is £227,000 with the average house price in the North East is £131,000.

A man who looked after his mother in the years before her death has been removed as an executor of her will following legal
action by his two brothers.The man was the woman’s younger son. He had lived with her and looked after her, along with two full-time carers, for several years. He continued to live in the house after his mother died.

His brothers sought to administer a will made in 1971 in which all three sons had been appointed executors and were equal
beneficiaries. They also sought to remove the younger son as an executor, saying he had refused to sign paperwork, or otherwise co-operate.
The region with the highest annual growth was Tendring in Essex, where prices increased by 11.8%. This increase may be due to buyers relocating to the coast following the sale of more expensive properties elsewhere. The lowest annual growth was in Aberdeen where house prices fell by 6.1%.
Please contact our team if you would like help with the legal aspects buying or selling a home.

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