ODPM says house inflation increases
The latest official government report on the housing market has shown UK inflation continued to increase at the end of last year with the capital showing particularly strong growth.
The Office of the Deputy Prime Minister said UK annual house price inflation rose 2.9% in December, up from 2.2% the month before. In London annual house price inflation was 3.8% from 1.5% the month before.
For the three months to December the UK annual house price inflation rate was 2.2% and 1.4% in London.
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The ONS said prices were almost unchanged between November and December compared with a fall of 0.7% in the same period a year earlier.
Following the change the average house price in the UK, as of December 2005, stood at £185,788, down marginally from £185,848 in November 2005.
