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Home prices rose by 7.2% in 2016 according to the Office of National Statistics. This compares with 6.9% in 2015. According to the ONS the average house or flat price reached £220,000 by the end of the year. Growth was weaker in the second half of the year.
Regional Variation
Remote Shetland witnessed the biggest increase at 26%. Basildon in Essex occupies second place at 17.8% with nearby Maldon at 16.2%. Overall, the East of England top the list with an average of 11.5%, followed by the South-East at 8.5%.
Regional differences show no sign of closing, average London prices are around four times those in the North East.
ONS Report
