This figure means that the annual change in prices during 2001 was 15.5 per cent, and the standardised average house price is now £98,885.
Gary Styles, head of group economics at the Halifax, said: "House price inflation has been very strong in 2001 rising from around 3-4% at the start of the year to over 15% in December. Despite the terrible events of 11 September and the dramatic slowdown in the world economy the housing market has shown remarkable resilience."
"The latest figures show the strongest monthly rise since October 1999 and this largely reflects a revival in consumer confidence, something a number of economic indicators have shown in recent weeks. Slowing economic growth and rising unemployment should help to ease house price inflation to more moderate levels over the course of 2002."
