5 Feb

Halifax reports house price rise in January

Halifax reports house price rise in January

British house prices rose in January, according to new figures released by Halifax.

The financial institution reported that property values in the UK increased by an average of 0.6 per cent during January, in its monthly house price index.

It is the seventh consecutive monthly rise in the market, Halifax housing economist Martin Ellis explained.

"[This] takes the average price to 9.9 per cent above its trough in April 2009," he noted.

However, Mr Ellis pointed out that this is the most modest increase experienced in the market over the past six months.

He said that Halifax expects house prices to be "flat" this year, citing more properties entering the market as a factor that will help to slow price rises over the next 12 months.

On February 2nd, Knight Frank released data which indicated that the housing development sector could pick up during 2010.

The property consultancy reported that residential development land values increased by 2.1 per cent in the final three months of 2009, which was their third successive quarterly rise.ADNFCR-1222-ID-19600848-ADNFCR

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