London house prices went above the inheritance tax threshold of £285,000 even though there was a December slowdown.
Property prices went down in December, ensuring that the country's average annual house price inflation remained at 9.9%, so the Halifax confirmed.
Nonetheless, the 1% decline in house prices was insuffucient to dampen huge rises in the last three months as well as increases of 8% plus for all except two regions in 2006.
London house prices have grown in double digits, with average house prices at £287,176.
House prices went down 1% in December, however, it is too early to deduce whether this is a real long lasting slowdown for the housing market.
Prices in the last quarter were 4.2% higher than the prior quarter, making this the strongest quarterly increase since the second quarter of 2004.
Increasing employment, higher economic growth as well as lack of housing supply could continue to increase house prices over the following months, yet higher interest rates, stricter household finances and reduced earnings growth are likely to constrain demand.
House prices are expected to increase by 4% in 2007.
Northern Ireland investors were clearly the winners of 2006, with the province scoring a 52.9% in the last quarter of 2006, in comparision to the last quarter of 2005.
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