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House price rises slowed to 6.7% in 2015, says ONS | House price rises slowed to 6.7% in 2015, says ONS |
(about 2 hours later) | |
House prices in the UK rose by 6.7% in 2015, according to the Office for National Statistics (ONS) - a considerable slowdown on the previous year. | House prices in the UK rose by 6.7% in 2015, according to the Office for National Statistics (ONS) - a considerable slowdown on the previous year. |
In 2014 prices rose by 9.8%, according to ONS figures. | In 2014 prices rose by 9.8%, according to ONS figures. |
Prices increased fastest in England, at 7.3%, and slowest in Scotland, where they fell 0.2% during 2015. | Prices increased fastest in England, at 7.3%, and slowest in Scotland, where they fell 0.2% during 2015. |
The value of houses and flats rose by just 1% in Wales, and by 1.5% in Northern Ireland. | The value of houses and flats rose by just 1% in Wales, and by 1.5% in Northern Ireland. |
The average price at the end of December was £288,000. | The average price at the end of December was £288,000. |
The ONS figure is in the middle of a range of estimates produced by other organisations. | The ONS figure is in the middle of a range of estimates produced by other organisations. |
Halifax, the UK's largest mortgage lender, said prices rose by as much as 9.5% in 2015, while the Nationwide Building Society put the increase at just 4.5%. | Halifax, the UK's largest mortgage lender, said prices rose by as much as 9.5% in 2015, while the Nationwide Building Society put the increase at just 4.5%. |
The Land Registry of England and Wales said the annual inflation rate was 6.4%. | The Land Registry of England and Wales said the annual inflation rate was 6.4%. |
Separate figures show that the number of new mortgages taken out in 2015 was roughly the same as in 2014. | |
But the Council of Mortgage Lenders said the amount being borrowed had risen from £112bn in 2014 to £118bn in 2015 - an increase of 5.3%. |
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