House prices increased by 1.4% in January bringing the annual growth rate to 4.4%, according to the latest Nationwide house price report.
The figures reveal the average house price in January was £158,478 compared with £157,250 in December. Fionnuala Earley, Nationwide’s group economist, says: “This is the strongest monthly rate of growth since July 2004 when it was 1.9% and the annual rate of house price inflation was 20%. The annual rate of house price inflation in January 2006 is a more modest 4.4%. Even so, this is a significant increase in price and confirms the strengthening trend we have seen since October.” Three quarters of the 4.4% increase came in the last four months and Earley says at least part of the pick-u...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
