7 Feb

January house prices show year-on-year rise

January house prices show year-on-year rise

The price of properties being sold through estate agents in January were lower than they were at the end of 2012, but showed a promising rise when compared to the same month a year earlier.

According to the latest statistics revealed by the Halifax's House Price Index, the cost of purchasing a house in the UK fell by a monthly total of 0.9 per cent.

However, at the same time, the price for buying rose by 1.3 per cent when compared to the same month in 2012. This comes after the Royal Institute of Chartered Surveyors posted a rise in the demand for homes throughout December.

"The signs of improvement in the housing market towards the end of last year continued in January. Prices in the three months to January were 1.9 per cent higher than in the previous three months; the strongest figure in this measure of the underlying trend for three years," said Martin Ellis, housing economist with Halifax.ADNFCR-1222-ID-801536715-ADNFCR

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