UK house price growth accelerates in December - ONS
By Michele Maatouk
Date: Wednesday 19 Feb 2025
(Sharecast News) - Growth in average UK house prices accelerated in December, according to data released on Wednesday by the Office for National Statistics.
House prices rose 4.6% to £268,000 in the 12 months to December 2024, up from 3.9% in November.
The figures also showed that average private rents were ahead 8.7% in the 12 months to January 2025, down from 9% growth in December.
Nathan Emerson, chief executive of Propertymark, said: "With house prices remaining buoyant, this indicates that the wider economy continues to stabilise, and people are feeling confident in their personal financial positions. We have also witnessed interest rates track downward steadily since last summer and will hopefully see continued progression heading further into the year, should the Bank of England feel confident that conditions are safe to consider further base rate dips.
"With governments across all UK nations planning on building more new homes at scale over the coming years, if done effectively, this should help even out house prices and supply across the entire country.
"Alongside this, as confidence and affordability in the housing market continue to grow, and as homeowners witness enhanced levels of equity within their properties, we expect affordability pressures to further ease, allowing more aspiring and current homeowners to make their next home move."
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