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UK House Price Inflation Accelerates In December

British house price inflation accelerated slightly in December, after easing in the previous month, figures from the Office for National Statistics showed Tuesday.

The house price index climbed 5.2 percent year-over-year December, faster than the 5.0 percent rise in November, which was revised down from a 5.1 percent increase reported earlier.

The average UK house price was GBP 227,000 in December, which was GBP 12,000 higher than in the same month of the prior year and GBP 1000 higher than a month ago.

House price inflation in England alone was 5.0 percent in December. House prices grew 5.4 percent in Wales and a 7.7 percent rise seen in Scotland.

On a regional basis, London remained the region with the highest average house price at GBP 484,000, followed by the South East and the East of England.

On a monthly basis, house prices increased 0.4 percent at the end of the year.

by RTTNews Staff Writer

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