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House prices up 1.5 per cent in December

31 December 2003
The UK housing market continued to grow this month, according to the latest figures from a leading lender.

Nationwide said house prices increased by 1.5 per cent during December, up on November's figure of 1.2 per cent.

The news comes despite concern that the market is heading for a downturn.

Over the course of 2003, house prices were up by just over 15 per cent. The North of England saw the biggest rise of 30 per cent growth.

The average UK house price now stands at £135,000.

Nationwide economist Alex Bannister said the lower number of first time buyers was an indication that the market was cooling naturally.