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  1. ITV Report

Houses prices in Yorks fastest growing in UK

House prices in Yorkshire are the fastest growing in the country for the first time in over a decade - according to new figures from Nationwide.

Editorial image Credit: Press Association

Average house prices in Yorkshire rose by 5.8 per cent in the last year.

That is compared to a national increase of only 2 per cent. It is the first time since 2005 that Yorkshire has been the top-performing region.

Annual house price growth was stable in September at 2%. Looking further ahead, much will depend on how broader economic conditions evolve, especially in the labour market, but also with respect to interest rates.

Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low.

Overall, we continue to expect house prices to rise by around 1% over the course of 2018."<

– Robert Gardner, chief economist at Nationwide