“Today’s figures demonstrate a strong end to 2015 in the housing market, with an annual price increase of 6.4%, an 11-month high. However, the overall figure does not display the disparity in house price performance between different regions, with three regions seeing a month-on-month price fall in November, and a more modest annual growth in prices of 4.4% when discounting London and the South East.
“In London the average property price is £537,000, a 90% increase over a decade. Figures published by the National House Building Council (NHBC) yesterday showed while housebuilding across the UK increased in 2015, in London the opposite was true. The number of new homes registered in the capital last year fell nine per cent, from more than 28,000 in 2014 to just under 26,000 in in 2015. While new housebuilding measures have been announced, there is likely to be a delay between supply policies catching up with rising demand, and housing supply constraints are likely to continue to fuel house price increases in London and the South East.”
For further enquiries, journalists can contact:
Adam Taylor, Cicero Group
Phone: 0207 297 5971
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to editors:
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