(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 values 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.
To contact the reporter on this story: Fergal O'Brien in London at fobrien@bloomberg.net.
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Andrew Atkinson, Sheldon Reback
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