House prices continue to rise
This is compared with a rise of 0.5% in the year to November. Between November and December there was a rise of 0.8% in house prices compared with a fall of 1.6% over the same period last year. Eight consecutive month-on-month rises in the UK house price index have resulted in an increase over the year to December.
The main findings were:
• UK house prices were 2.9% higher than in December 2008 and 0.8% higher than in November 2009 (seasonally adjusted).
• The mix-adjusted average house price in the UK stood at £200,307 in December 2009 (not seasonally adjusted).
• UK house prices rose by 2.9% in the quarter ending December 2009. This compares with a larger rise of 3.1% for the quarter ending September 2009 (seasonally adjusted).
• Annual average house prices rose in England (3.0%), Scotland (3.8%) and Wales (1.0%), but fell in Northern Ireland (-6.0%).
• Annual average house prices paid by first time buyers in December 2009 were 6.8% higher than a year ago. Average house prices paid by former owner occupiers were 1.4% higher.