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The Office for National Statistics (ONS) released its house inflation data for the U.K. on Tuesday. The U.K. house price index increased at a seasonally adjusted rate of 0.9% in January, after a flat reading in December.
On a yearly basis, the U.K. house price index increased at a seasonally adjusted rate of 7.9% in January, after a 6.7% in December. It was the biggest rise since March 2015.
The higher house price inflation England was mainly driven by an increase in prices in the East, the South East and London.
The average mix-adjusted house price was £292,000 in January, up from £288,000 in December.
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