Northamptonshire house prices increased by average of 3.6 percent in 2015

Library picture
Library picture

House prices have increased by 3.6 percent in Northamptonshire in the past year, latest figures have shown.

Data from the Nationwide Building Society reveals the average price of a house in the region is now £161,398.

Robert Gardner, Nationwide’s chief economist, said, nationally, UK house prices increased by 0.8 percent in December.

However, house price growth is predicted to slow down in 2016 if there is an interest rate rise.

Mr Gardner said: “Further healthy gains in employment and rising wages are likely to bolster buyer sentiment, while borrowing costs are expected to rise only gradually.

“However, the main concern is that construction activity will lag behind strengthening demand, putting upward pressure on house prices and eventually reducing affordability.

“Overall, we expect UK house prices to rise by 3-6 percent over the next 12 months,” he said.

London was the strongest performing region for housing price growth for the fifth year running, with average prices up 12 per cent year-on-year. Scotland was the only region to see prices fall over the year, with prices down 1.9 percent compared with 2014.