Property prices in the UK remained robust in January after annual house price inflation rose yet again compared with a fall in the same period last year, government figures show.
The Office of the Deputy Prime Minister (ODPM) suggests UK annual house price inflation rose to 9.7% in the first month of 2004, from 8.3% in December, indicating the market is gaining further strength.
This inflation took the average house price in the UK to £163,645 in January - adding another £991 to the value of the average property.
Demograpically, all four home countries saw an increase in annual house inflation. The strongest rise occurred in Scotland, where annualised inflation moved to 23.3% from 15.5% in December. In England, annualised inflation rose to 8.8% from 7.7%.
Rising prices are making it harder for first time buyers to get on the property ladder, and the ODPM suggests the average FTB house price now stands at £127,389.
The figures are in line with those presented in other housing reports from providers, which have all predicted increasing house prices through the rest of the year.IFAonline
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