The latest monthly data from the Land Registry has shown house prices in the United Kingdom rose by 6.7% year on year.
The average property value in the UK rose to £217,928 in the November 2016 data.
House prices in London showed an annual price increase of 8.1%, taking the average property value to £418,648. Monthly house prices rose by 1.8% from October 2016.
ONS data further revealed that home sales in the UK increased by 0.8% between October and November 2016, a decline of 7.3% from November 2015.
Meanwhile in the wider England measure, prices rose 7.2%, taking the average property value to £234,278. Monthly house prices went up by 1.1% since October 2016.
“The UK market remained resolute in the face of uncertainty with price growth continuing to increase late into the year,” said eMoov chief executive Russel Quirk.
Meanwhile Ian Thomas, CIO and co-founder of LendInvest said: “Despite some knocks, the property market will remain fundamentally strong throughout 2017, with a sustained drive by government to increase the supply of new homes.”
“The Housing White Paper expected later this month will add detail to the commitments already made by the housing minister to tackle the housing crisis. The industry will be watching these announcements with hope that they will reinvigorate the market.”