According to the latest data collected by ONS, the average price of a house in the UK rose 2.2% to £235,000 during the year ending December 2019. 

In England, average house prices were up 2.2% to £252,000. Wales and Scotland also recorded the same 2.2% increase year-on-year, with the average house price rising to £166,000 and £152,000, respectively.

In Northern Ireland, house prices climbed 2.5%, with average house prices surging to £140,000.

During the 12 months to December 2019, all regions witnessed a rise in average property pri4es, with the South East of England recording the lowest average growth at 1.2%.

By comparison, average house prices in Yorkshire and Humber registered the biggest increase over the same period, climbing 3.9%. 

“The continued growth of rental prices is preventing renters from accessing the homes that they want,” said flatfair founder and chief executive Franz Doerr.

“As the ‘Boris bounce’ has driven up house prices, we are seeing a continuing trend of tenants opting to rent for longer than ever before.

“However, rising rents, and the need to scrape together a large lump-sum deposit when moving are huge barriers that need addressing.

“With a growing number of landlords leaving the sector leading to a reduction in the available housing stock, action needs to be taken to make the rental market work better for tenants and landlords alike.”

Hedi Zidan, founder and chief executive of Nestify, added: “Today’s figures demonstrate that the UK rental market is resilient, and that demand remains strong.

“Our landlords are increasingly meeting tenants who are seeking a range of different accommodation solutions, durations and tenancy options.

“This means that in order to maximise the current UK housing stock, it’s vital landlords have access to a range of short, medium and long-term rental options.

“These figures demonstrate how integral professional landlords are to UK housing and it is our belief that they should be supported to provide the range of tenancies that the UK rental population so clearly crave.”

Director of lettings and sales agent at Benham and Reeves Marc von Grundherr noted: “much has been made of the ‘Boris Bounce’ and there is no doubting that it spurred a huge uplift in market activity.

“While today’s figures display a slightly more muted market landscape in terms of actual sales, it is important to remember that even the most enthusiastic of buyers and sellers would struggle to get a transaction completed in the few short weeks between the election result and the end of the year.

“All in all a resilient show from the UK property market, particularly given the backdrop of political turbulence that has been prevalent for much of the last 12 months, and a foundation that should now see a strong performance for the year ahead following on from December’s election results.”