House Price Rises Slowed to 6.7% in 2015, says ONS

House prices in the UK rose by 6.7% in 2015, according to the Office for National Statistics (ONS) - a considerable slowdown on the previous year.

 

Where prices rose fastest in 2015
Region	Price change
Eastern England	+ 9.7%
London	+ 9.4%
South East	+ 8.8%
East Midlands	+ 5.0%
South West	+ 4.7%
North West	+ 3.7%
West Midlands	+ 3.5%
Yorks and Humberside	+ 2.6%
Northern Ireland	+ 1.5%
Wales	+ 1%
North East	+ 0.9%
Scotland	- 0.2%
Source: ONS

In 2014 prices rose by 9.8%, according to ONS figures.

Prices increased fastest in England, at 7.3%, and slowest in Scotland, where they fell 0.2% during 2015.

The value of houses and flats rose by just 1% in Wales, and by 1.5% in Northern Ireland.

The average price at the end of December was £288,000.

The ONS figure is in the middle of a range of estimates produced by other organisations.

Halifax, the UK's largest mortgage lender, said prices rose by as much as 9.5% in 2015, while the Nationwide Building Society put the increase at just 4.5%.

The Land Registry of England and Wales said the annual inflation rate was 6.4%.