The latest UK House Price Index has revealed that average house prices in the UK increased by 2.2% over the year to December 2019, up from 1.7% in November 2019.
For the first time since February 2018, all regions have seen a positive annual growth rate.
Over the past three years, there has been a general slowdown in UK house price growth (driven mainly by a slowdown in the south and east of England), but there has been a pickup in annual growth since July 2019.
According to the numbers, the average UK house price was £235,000 in December 2019; this is £5,000 higher than in December 2018. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.3% between November 2019 and December 2019, 0.5 percentage points higher than the same period a year ago. On a seasonally adjusted basis, average house prices in the UK increased by 0.4% between November 2019 and December 2019.