The rate of house price inflation in England and Wales picked up in December, official statistics show today.
The annual figure is the highest since 2004, with growth in England and Wales running at 0.7 per cent in December, bringing the average house price to £173,717.
The rise was up slightly on November's unrevised figure, but remained below increases in September and October.
House prices were still accelerating last month with average property values in December 7.8 per cent higher than at the start of 2006. London led in price growth, but the north east was just 4.5 per cent up on 2006.
"The year 2006 has concluded with a solid rise in house prices for England and Wales," the Land Registry said in a statement.
"The past year has seen greater house price appreciation than that witnessed throughout 2005."
Ed Stansfield, property economist at Capital Economics, said, "Today's figures are no great surprise. It does not give much support for signs of a slow-down in the market."
Meanwhile, property research firm Hometrack said that the cost of a home in England and Wales grew by 0.4 per cent in January, with its estimate of annual house price inflation at six per cent.
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House prices rise again in December Wed, 14 Feb 2007
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