House price sentiment in the UK is at a five-year high

Image caption House prices have risen rapidly in recent months as demand has grown

Households' perception of the value of their home has risen to a five-year high, an index has shown.

The Markit House Price Sentiment Index rose to 59.4 during December, and any value over 50 indicates prices are rising.

The index found people in London, the east of England and the South West were most positive about the price rises.

Those in the South East anticipated the biggest rise in house prices over the next year.

Expectations about future prices also rose to near pre-recession highs.

Estate agent Knight Frank carried out the research, with Markit Economics.

It marks the ninth consecutive month households across the UK report an increase in the value of their homes.

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