(MENAFN) The British Office for National Statistics (ONS) said that house prices in the country grew 8.0 percent in March compared to a year earlier, down from 9.2 percent which was registered in February, Xinhua reported.
OSN said that average house prices over the year to March 2014 increased 8.5 percent in England, 4.9 percent in Wales, 0.8 percent in Scotland and 0.3 percent in Northern Ireland.
British government announced that "Help to Buy", a housing market stimulus scheme, would be extended for another four years to 2020, in order to boost the houses construction in the country.
"Help to buy is a relatively small program at this point but it could grow a lot and it could change attitudes in other parts of the mortgage market. That's why we have to be vigilant," said governor of Bank of England.
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