House prices in the UK rose by 6.7 per cent in 2015, down from 7.7 per cent in the year to November.
The average UK house price is now £288,000 says the Office for National Statistics.
Prices increased fastest in England at 7.3 per cent, and slowest in Scotland, where they fell 0.2 per cent last year. The value of houses and flats rose by just 1.0 per cent in Wales and by 1.5 per cent in Northern Ireland.
Within England, East Anglia saw the largest annual house price increases – up 9.7 per cent – followed by London on 9.4 per cent and then the South East up 8.8 per cent.
In response to the data, Paul Smith – chief executive of Haart – says one of the problems besetting the market in 2015, a relative shortage of properties on sale, has so far been addressed in 2016 with around five per cent more homes on sale.
But he claims “we are finding there are not enough specialists such as surveyors and lawyers to cope effectively with the renewed levels of activity and professional bodies must implement ways of encouraging more talented people into their fields.”
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