House price rises going off the boil, says ONS

House prices across the UK went up by an average of 10% in the year to last November, the Office for National Statistics has said.

However, this was driven by an annual increase in London of 15.3%, 11.9% in the east and 10.8% in the south-east.

Excluding London and the south-east, UK house prices rose by 7.1% in the year to last November.

The ONS puts the average “mix adjusted” house price in November at £283,000 in England, £171,000 in Wales, £147,000 in Northern Ireland and £194,00 in Scotland.

In London, the average price was £501,000 compared with £155,000 in the north-east.

Outside London and the south-east, the average house price was £207,000.

House prices generally peaked last August, says the ONS, but in some areas – the east midlands, west midlands and south-west – they are still below their previous peak of October 2007.

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