UK house prices grew faster than expected in December to reach an eight-month high, according to the Nationwide building society.
London again topped the growth table in 2015, with a home costing 12.2% more than a year earlier.
Related: House prices in 2016: what the experts predict
The average UK home now costs £196,999, Nationwide said.
The mortgage lender said house prices rose 0.8% in December, the strongest monthly rise since April, with a price rise of just 0.1% in November.
House prices in the UK rose 4.5% year-on-year, up from a 3.7% annual increase in November, the building society said.
“As we look ahead to 2016, the risks are skewed towards a modest acceleration in house price growth, at least at the national level, despite the likelihood of interest rate increases from the middle of next year,” Nationwide’s chief economist, Robert Gardner, said.
House prices are likely to rise from 3% to 6% over the next 12 months, Gardner added.
Economists polled by Reuters expect the Bank of England to raise interest rates from the record low 0.5% this year.
House prices are likely to rise between 3 and 6 percent over the next 12 months, Gardner added.
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