London House-Price Growth Is at Its Weakest in Five Years: Chart

(Bloomberg) -- London home prices are rising at the slowest annual pace in five years, and at less than half the average across England and Wales. The latest Acadata report shows that s in the U.K. capital increased 1.4 percent in March, compared with almost 14 percent a year ago when buyers rushed to beat a new levy, and transactions are down by almost one third. London’s underperformance partly reflects the change in fortunes at the top end of the market, where the extra tax bill on the most expensive homes has put buyers off.