Just picked this little gem up from the press wires.
Things continue to improve, especially with the Bank Of England holding rates at 0.5%
House prices are up
- House prices rose by 1.2% in January and are up 8.6% year-on-year
- Recent economic data has been a mixed bag for the housing market
- Inflation uncertainties highlight interest rate risk
Please click here for the Nationwide house price calculator.
| Headlines | January 2010 | December 2009 |
| Monthly index * Q1 ’93 = 100 | 330.5 | 326.4 |
| Monthly change* | 1.2% | 0.5% |
| Annual change | 8.6% | 5.9% |
| Average price | £163,481 | £162,103 |
*seasonally adjusted
Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist said:
”House prices strengthened their upward momentum at the start of 2010, increasing by a seasonally adjusted 1.2% month-on-month in January.
The 3 month on 3 month rate of change – usually a smoother indicator of the near term trend – dipped slightly from 2.3% in December to 2.1 % in January, but this primarily reflects the smaller price increases recorded in November and December.
At £163,481, the average price of a typical UK property cost 8.6% more than a year earlier in January, up from 5.9% in December. Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month for the first time since May 2007.”
All sounds good to me.
Need help or advice in getting a mortgage, please give me a call
Michael Usher
01276 670777
