House prices end the year up 0.2%
- Average house price growth slows yet increases seen across majority of regions
- Bristol sets the pace with prices up 8.9% and South West prices increase 5.3%
- London prices continue to slow with transaction levels down 3% in 2017
Average house prices in England and Wales rose marginally in December, with the average home increasing just £90 in value. The annual growth rate fell for the seventh month in a row, to just 0.2% – down from 0.9% in November and the lowest annual increase since March 2012.
The average price of a home in England & Wales finished the year up £553 year on year, but £5,200 under the peak in March. At £300,846, prices remain above the £300,000 mark, and December marked the second month in a row that prices rose after several months of falls.
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents, said: “The end of 2017 was relatively quiet for house movers, particularly in the capital. Outside of London, however, the majority of regions still reported growth over the month, demonstrating that there is still some strength going into the new year.”
Data source: LSL Property Services