Shetland saw fastest house price rise in 2016, says ONS

house on Shetland Image copyright Getty Images
Image caption Shetland has few houses, but had the fastest rising prices in 2016

The Shetland Isles saw the biggest house price increase in the UK last year, registering a rise of 26%, according to the Office for National Statistics (ONS).

Across the country as a whole, prices rose by 7.2%, compared to 6.9% in 2015.

The average price of a house or flat reached £220,000 in the year to the end of December, the ONS said.

The region with the largest increase was the East of England (11.3%), followed by the South East (8.5%).

After Shetland, the place where prices rose fastest was Basildon, in Essex, which saw an average rise of 17.3%. Nearby Maldon saw prices go up by 16.2%.

Prices fell most dramatically in Aberdeen, down 9.8%. The market there has suffered from a downturn in the oil industry.

Most experts believe house price inflation in 2017 will be much lower than in either of the two previous years.

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