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House prices rising by £16,000 a year, says ONS

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The price of an average house or flat in the UK rose by £16,000 in the year to May, according to the Office of National Statistics (ONS).

The house price inflation rate remained at 8.1%, the same as in April. It brings the average price to £211,000.

The figures relate to the period before the referendum on the EU.

The first indication of what may happen in the housing market as a result of Brexit came last week, in a report by surveyors.

The Royal Institution of Chartered Surveyors (Rics) said that it expected house prices to fall in London and East Anglia in the months ahead.

It also said that demand from buyers had hit its lowest level for eight years.

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