UK house price growth accelerates at best pace since July – ONS

Listen to this article

00:00
00:00

A turn up for the books.

UK house price growth exceeded expectations at the end of 2016, expanding at its best monthly pace since the aftermath of the Brexit vote in July.

Official figures show average UK home prices rose 7.2 per cent in December compared to the same month in 2015, exceeding a forecast of 6.7 per cent and accelerating from the 6.1 per cent recorded in November. Growth in London hit 7.5 per cent on the month and up 7.7 per cent across England as a whole.

The average price of a home in England is now £236,000, £148,000 in Wales and £142,000 in Scotland.

The British property market has broadly shrugged off the effects of the Brexit vote in June, with the ONS adding that house price growth was “continuing the strong growth seen since the end of 2013″. Price rises were however softer in the latter part of 2016 compared to the first six months of the year.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.