File photo of houses for sale. Picture: PA.
By Vicky Shaw, PA Personal Finance Correspondent
The average UK house price increased by £27,000 last year, ending 2021 on a record high of £275,000, according to official figures.
The Office for National Statistics (ONS) said the average house price across the whole of the UK, as well as in England and Wales, reached record levels in the month of December.
Across the UK generally, house prices increased by 10.8% over the year to December 2021, accelerating from 10.7% in November 2021.
The average house price in Wales increased by 13.0% over the year to December 2021, accelerating from an increase of 12.6% in November 2021.
The latest increase pushed the average house price in Wales to a record level of £205,000.
In England, property values increased by 10.7% over the year to December 2021, up from an increase of 10.5% in the year to November 2021, with the average house price at a record high of £293,000 in December.
The average house price in Scotland increased by 11.2% over the year to December 2021….
