UK property prices up almost 8% year on year

UK house prices increased by 7.9% in the year to January 2016, up from 6.7% in the year to December 2015, taking the average price to £292,000, according to the latest data to be published. The index from the Office of National Statistics (ONS) also shows that prices increased by 8.6% in England, by 0.1% in Scotland and by 0.8% in Northern Ireland but fell by 0.3% in Wales. Annual house price increases in England were driven by an annual increase in the South East of 11.7%, then London with gro...