North east's house price inflation is 20% - 14/02/2005 ...

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The north east has the highest level of house price inflation in the UK, recording a rate of 20.5 per cent.

House price figures for December 2004, provided by the Office of the Deputy Prime Minister (ODPM), show that the region has scored highest levels of house price inflation in the UK.

However, they also reveal that despite these inflation rates, the region's average house price is still the lowest in the country.

People purchasing a house in the north east can, on average, expect to pay £128,991. This is £100,000 less than the highest regional price, which was found to be in London.

The capital recorded an average price of £257,195.

National figures recorded by the ODPM found that both house inflation and the UK's average house price had fallen in December. The inflation rate fell from 13.7 per cent to 10.7 per cent and the average house price fell by £1,120.

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