HOUSE PRICE GROWTH AT LOW­EST RATE IN MORE THAN FIVE YEARS

Gloucestershire Echo - - YOUR MONEY -

HOUSE prices in­creased at their slow­est an­nual rate in more than five years in De­cem­ber, ac­cord­ing to of­fi­cial fig­ures.

Across the UK, prop­erty val­ues in­creased by 2.5% in the year to De­cem­ber – the low­est an­nual rate since July 2013 when there was 2.3% growth.

The fig­ures were re­leased jointly by the Of­fice for Na­tional Sta­tis­tics (ONS), the Land Reg­istry and other bod­ies.

There were vari­a­tions across na­tions and re­gions, with price growth top­ping 5% in North­ern Ire­land, Wales and the West Mid­lands, while the North East of Eng­land and Lon­don saw val­ues slide lower.

The av­er­age UK house price was £231,000 in De­cem­ber.

Over the past two years, there has been a gen­eral cool­ing in price growth, driven mainly by a slow­down in the south and east of Eng­land, the re­port said.

Prices in­creased by 5.5% in North­ern Ire­land, 5.2% in Wales, 2.4% in Scot­land and 2.3% in Eng­land.

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