House price annual inflation was 8.3% in England, 1.3% in Wales, 0.4% in Scotland and 4.6% in Northern Ireland.
Annual house price increases in England were driven by an annual increase in the East (10.2%), the South East (9.8%) and London (9.8%).
Excluding London and the South East, UK house prices increased by 5.8% in the 12 months to November 2015.
On a seasonally adjusted basis, average house prices increased by 0.8% between October and November 2015.
In November 2015, prices paid by first-time buyers were 7.4% higher on average than in November 2014. For owner-occupiers (existing owners), prices increased by 7.8% for the same period.
Adrian Whittaker, Sales Director, New Street Mortgages, commented:
“These figures from the ONS are typical of the strong growth that the housing market experienced last year, as house prices rose well above the level of inflation. A supply deficit and rising demand as more people looked to purchase property is squeezing the market, and this puts vendors in a position where they can select the most appropriate buyer."
Stephen Smith, Director, Legal & General Housing Partnerships, added:
“House prices are continuing to rise well above inflation which is pricing many prospective buyers out of the market. Prices have also risen significantly on an annual basis, exposing the increasing gulf between supply and demand.
“Suitably sized housing needs to become more readily available at both ends of the market, to enable first time buyers to take their first steps onto the housing ladder and help last time buyers to ‘rightsize’, making life better for all. The Government needs to build around 250,000 extra houses this year to give potential buyers any hope of finding their dream home. There are currently a number of constraints which elongate the house building process and the country should consider exploring alternative avenues to help speed up construction, such as modular housing.”
