Latest data from the UK’s ONS shows that average house prices in the UK have increased by 7.2% in the year to December 2016 (up from 6.1% in the year to November 2016), continuing the strong growth seen since the end of 2013. However, annual growth has been weaker in the second half of 2016 compared with the first half of the year. 
The average UK house price was £220,000 in December 2016. This is £15,000 higher than in December 2015 and £3,000 higher than last month.
The main contribution to the increase in UK house prices came from England, where house prices increased by 7.7% over the year to December 2016, with the average price in England now £236,000. Wales saw house prices increase by 4.7% over the last 12 months to stand at £148,000. In Scotland, the average price increased by 3.5% over the year to stand at £142,000. The average price in Northern Ireland currently stands at £125,000, an increase of 5.7% over the last 12 months.
On a regional basis, London continues to be the region with the highest average house price at £484,000, followed by the South East and the East of England, which stand at £316,000 and £282,000 respectively. The lowest average price continues to be in the North East at £129,000.
The East of England is the region which showed the highest annual growth, with prices increasing by 11.3% in the year to December 2016. Growth in the South East was second highest at 8.5%, followed by London at 7.5%. The lowest annual growth was in the North East, where prices increased by 4.1% over the year.
