London property slump drags back UK house price growth

Stalling house prices, slowing inflation and Brexit will deter interest rate rise - analysts

London house prices slipped in October, dragging the growth in average property prices to its lowest level since July 2013.

The slump in the capital, which began after the Brexit vote in 2016 and reached a fall of 1.7% for the year to October 2018, pulled down the average increase across the UK to 2.7%, down from 3% in September, according to official data.

Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common.