House prices increased by 2.2% in December, following a 1.2% fall in November, taking the average house price to £229,729.
According to the latest report from Halifax, house prices could increase by up to 4% in 2019.
Russell Galley, Managing Director, Halifax, said: “A stronger monthly growth figure for December reversed a weak November figure, monthly fluctuations are common, leaving the annual figure very firmly in the range of 0-3% as we forecast at the start of the year.
“In 2019, we’re expecting continued stability in house prices with between 2% and 4% price inflation.
“This is slightly stronger than 2018, but still fairly subdued by modern comparison. However, this expectation will clearly be dependent on the Brexit outcome, with risks to both sides of our forecast.”
November home sales rose by 100 to 100,930, 1.8% above the previous 12 month average.
The number of mortgages approved for house purchases fell 4.5% to 63,728 in November, below the 2018 average of 64,955, according to Bank of England figures.