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Halifax released its house prices data for the U.K. on Thursday. House prices in the U.K. jumped 1.7% in December, exceeding expectations for a 0.5% gain, after a flat reading in November. November's figure was revised up from a 0.2% decrease.
On a yearly basis, house prices climbed 9.5% in the three months to December, after a 9.0% increase in the three months to November. Analysts had expected the index to rise 9.0%.
"There remains, however, a substantial gap between demand and supply with the latest figures showing a further decline in the number of properties available for sale. This situation is unlikely to change significantly in the short-term, resulting in continuing upward pressure on prices," Halifax's housing economist Martin Ellis said.
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