ODPM: House price growth up in December

14 February 2006
Annual house price growth picked up in December, new figures from the Office of the Deputy Prime Minister (ODPM) show.

This data comes after separate research showed that house price growth at the beginning of this year revealed steady progress.

Property prices at the end of 2005 were 2.9 per cent more than they had been in December 2004 and were 0.7 per cent higher than November's figures.

The sentiment has been echoed in other findings by Halifax, Hometrack and a joint report between the FT and Acadametrics.

Howard Archer, chief UK economist at Global Insight consultancy, said: "The climb in annual house price inflation to 2.9 per cent in December, from 2.2 per cent in November … reported by the ODPM adds to the recent evidence that house prices have firmed to a limited degree recently."

He added that this was amid "stronger housing market activity" and "increased buyer interest".

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