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UK house price inflation cooled in December to below 10%, figures from the Office for National Statistics showed on Wednesday.
Average UK house prices increased by 9.8% annually in December, slowing from a 10.6% increase in November, a figure revised up from 10.3%.
Markets had expected an 11.2% increase in December, according to FXStreet. Instead inflation slowed.
On a monthly basis, the average UK house price fell by 0.2% in December, reversing a 0.2% rise in November.
The average UK house price was £294,000 in December. This was £26,000 higher than a year prior, but a slight decrease from November’s record high of £296,000.
The North East continued to have the lowest average house price of all English regions, at £164,000 in December. Meanwhile, London’s average house prices remained the most expensive of any region in the UK, with an average price of £543,000.
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