House prices edge up in December
UK house price registered a small increase in in the five weeks to 7 janaury as first-time buyers returned to the market, according to the latest monthly survey by online agent Rightmove.
Average prices rise 0.1% to £196,319 after a drop of 0.8% in the previous month. The annual rate of housing inflation is now 3.6%, Rightmove said.
The survey showed prices on smaller properties had risen by around 1% over the month, helped by strong demand from first-time homebuyers and a rebound in London and the South East of England after a slowdown over the last year.
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"Without their strong performance, the national figures would have been in negative territory, as you would expect at this time of year," said Rightmove's commercial director Miles Shipside.
Rightmove also said that the number of unsold properties on estate agents' books is currently at its lowest since June 2004.
