House prices in the UK were 1.1% higher in December than the same month last year - the first annual rise since March 2008, according to data released by the Halifax.

Prices in December were also 1% higher than in November, meaning that house prices have now risen for six consecutive months. The average home in the UK is now worth £169,042.

"The prospects for the market this year will depend on how the UK economy evolves and whether there is a significant increase in the supply of properties for sale," said Halifax housing economist Martin Ellis.