ONSLogoThe ONS have just released their House Price Index for December 2015.

Main points

UK house prices increased by 6.7% in the year to December 2015, down from 7.7% in the year to November 2015.

House price annual inflation was 7.3% in England, 1.0% in Wales, -0.2% in Scotland and 1.5% in Northern Ireland.

Annual house price increases in England were driven by an annual increase in the East (9.7%), London (9.4%) and the South East (8.8%).

Excluding London and the South East, UK house prices increased by 4.6% in the 12 months to December 2015.

On a seasonally adjusted basis, average house prices decreased by 0.2% between November 2015 and December 2015.

In December 2015, prices paid by first-time buyers were 6.4% higher on average than in December 2014.

For owner-occupiers (existing owners), prices increased by 6.9% for the same period.

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