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UK house price inflation eased in January, defying market expectations, figures from the Office for National Statistics showed on Wednesday.
Average house prices in the UK increased 6.3% in January from a year before, slowing from a 9.3% annual increase in December.
Markets had expected house price inflation to accelerate to 10.8%, according to FXStreet.
The average house price was £290,000 in January, £17,000 higher than in the same month a year ago.
The North East continued to have the lowest average house price in all of the English regions, at £163,000 in January. London’s average house prices remained the most expensive in the UK, with an average price of £534,000.
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