Halifax: House prices 'rise by 1.9 per cent'
Property professionals
6th February 2009
New figures from Halifax have shown that house prices in the UK increased on average by 1.9 per cent in January, following months of consecutive falls.
The average price of a house in the UK is now £163,966.
In a statement, Halifax said that despite the rise in housing activity, it was still expecting a difficult year for the market as a result of increasing unemployment and the reluctance of banks to lend money.
"There are some very early signs that market activity may be stabilising, albeit at quite a low level," it said.
Among the reasons for the rise in property prices are interest rate cuts that have made mortgage payments more affordable to people buying new homes.
The figures from Halifax contrast with data from Nationwide which recently showed that house prices fell by 1.3 per cent last month.
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