House prices rise by another 0.6%

Monday, 8 February 2010

House prices have risen for the seventh consecutive month - rising by 0.6% in January compared with December, the Halifax has said.

The average UK home was valued some 3.6% higher in January than a year earlier, at £169,777.

The figures show the continued trend of rising prices which has helped mortgage providers ease their lending criteria slightly.

However, the Halifax is predicting that prices will stay flat overall in 2010.

The Halifax, which is now owned by the Lloyds Banking Group, said that the average price of a UK home was now 9.9% above its trough in April 2009.

However, housing economist Martin Ellis said that January's rise was more modest than in any of the previous six months. The average rise of the previous six months was 1.1%.

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Source: BBC Business News http://news.bbc.co.uk/1/hi/business/8497627.stm

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