The average price of a home rose by £18,000 last year, taking it to £288,000, figures from the Office for National Statistics show. The 6.7% rise represented a slowdown from the prior year’s 9% increase.
Prices in England rose by 7.3%, including a 9.7% increase in the east of the country and a 9.4% increase in London. Prices in Scotland fell by 0.2%, while in Wales prices rose by 1%. In Northern Ireland the increase was 1.5%.
While estate agents say that the increased demand resulting from buy-to-let investors rushing to beat stamp duty changes was now waning, economists expect house prices to continue to rise this year.
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