1 Feb

UK house prices higher than one year ago

UK house prices higher than one year ago

Prices for property for sale in London and other areas of the UK may have been slightly lower in January than they were in December of last year, but there is reason for cheer for the sector, as it has been revealed that prices are higher than they were in the same month of 2011.

Latest figures released by Nationwide Building Society have shown that the average house price in the UK in January was £162,228.

This figure was 0.2 per cent lower than the one posted in December, but was also 0.6 per cent higher than in January 2011.

Robert Gardner, Nationwide's chief economist, said: "With the flow of properties coming onto the market still more of a trickle than a flood, house prices are likely to continue to move sideways or only modestly lower in the months ahead."

Recent figures from the Land Registry reported that the end of 2011 had seen property prices stay flat when comparing November and December.ADNFCR-1222-ID-801281480-ADNFCR

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