LONDON: Northern Ireland and the North East Areas of Britain enjoyed a resurgence in house price rises in November. The pace of annual house price growth in Northern Ireland has picked up from 4.9pc in the year to October, to 11.7pc in the 12 months to November, according to new data from the Office of National Statistics.
This translated into a £10,000 jump in property prices from October to November in the country.
In a reversal of fortunes, annual price growth in London slowed from 17.2pc in the year to October to 15.3pc in the 12 months to November.
In May, the peak of last year’s housing market recovery in London, homeowners saw annual house price growth of 20.4pc following a surge of pent up domestic demand anf continued overseas investment.
In the same month, the people of Northern Ireland saw house price falls of 0.4pc.
Annual house price growth also sped up in the North East, the East Midlands, the East and the North West – although the latter only edged up 0.1pc.
Overall the Government’s official data shows that yearly house price growth across the UK fell from 10.4pc in October to 10pc in November, led by falls in London of 17.2pc to 15.3pc, and in the South East of 11.8pc to 10pc.
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