UK house prices rise at fastest rate in six years

British house prices rose at the fastest rate in more than six years at the end of 2020, official figures showed on Wednesday, extending a surge driven by a temporary tax break and demand for more spacious housing since the start of the COVID-19 pandemic.

The Office for National Statistics said house prices in December were 8.5% higher than a year earlier, compared with a 7.1% increase in November, the biggest year-on-year rise since October 2014.