Property Prices Rise by 5.2 per cent in 2017

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The Office of National Statistics (ONS), recently said that UK property prices rose by 5.2 per cent in up to December 2017.

Despite this increase, the ONS confirmed that the annual growth rate for house prices has slowed slightly since mid-2016.

The average house in the UK in Dec. 2017 was £227,000. This is a £16,000 increase on the previous year, and £1,000 more than the previous month.

London is still the most expensive area, with property prices averaging  £484,000. The South East was £322,000 with the East of England at £290,000. The lowest average price was £131,000 in the North East.