The ONS has released figures showing that property price increases are still slowing.
Reasons include the rising cost of buy-to-lets (because of stamp duty changes) and Brexit, which is causing falling migration and economic uncertainty which in turn is discouraging investment, particularly in London where prices have decreased by 0.7%..
Coupled with this, the Consumer Price Index has fallen to its lowest level since March 2017 (2.4%), suggesting that an interest rate rise is now unlikely.
Longer term, however, interest rates are expected to gradually increase, which could also impact upon house prices. Experts suggest that high house prices are currently sustained in part by existing low interest rates, which mean that mortgage repayment to income ratios aren't widely different from the past.
In the medium term, current research seems to suggest that house prices won't see the dramatic increases that we have witnessed in the past.
The pace of growth for UK house prices has continued to slow, while property in London had the weakest growth since 2009, official figures showed.