House prices in Birmingham are growing at their slowest rate in more than two years.

Property price growth across the UK has been slowing since the June 2016, and Birmingham appears to also be seeing smaller increases.

In the year to June, house prices in Birmingham grew by 5.6%, this was the slowest annual growth rate since December 2015, when annual growth was also 5.6%

The average house price in Birmingham was £181,241 in June, compared to £171,622 a year before.

Prices in Dudley rose by 4.4% in the year to June, to an average of £167,819 - prices were rising as fast as 7.1% a year in April, while prices in Coventry are growing at 6.9% a year, to an average of £184,690 in June, with growth having slowed from 11% in the year to March, and price growth in Walsall was 7.3% in the year to June, down compared to 8.7% annual growth in March.

Growth of property prices has slowed
Growth of property prices has slowed

However, other parts of the West Midlands are still seeing prices soar. In Sandwell, prices were up 11.9% in a year, to an average of £150,756 in June, the first time prices in the area have topped £150,000. This is the biggest annual growth rate since 14.4% annual growth in the year to March 2005.

In Solihull, prices were up 8.9% in a year, the fastest annual growth since 9.1% in October 2016.

Average house prices in the UK have increased by 3.0% in the year to June 2018 (down from 3.5% in May 2018). This is its lowest annual rate since August 2013 when it was also 3.0%. The annual growth rate has slowed since mid-2016 and has remained under 5%, with the exception of October 2017, throughout 2017 and into 2018.

This slowdown in UK house price growth over the past two years is driven mainly by a slowdown in the south and east of England. The lowest annual growth was in London, where prices decreased by 0.7% over the year, down from negative 0.2%.

The average UK house price was £228,000 in June 2018. This is £6,000 higher than in June 2017 and £1,000 higher than last month.

On a seasonally adjusted basis, average house prices in the UK were unchanged (0.0%) between May 2018 and June 2018, compared with an increase of 0.5% in average prices during the same period a year earlier (May 2017 and June 2017).

Across the UK, all houses showed an increase in average price in June 2018 when compared with the same month in the previous year. Semi-detached houses showed the biggest increase, rising by 4.4% in the year to June 2018 to £216,000.

The average price of flats and maisonettes increased by 0.5% in the year to June 2018, to £204,000, the lowest annual growth of all property types. Weaker growth in UK flats and maisonettes was driven by negative annual growth in London for this property type. London accounts for around 25% of all UK flats and maisonette sales.