skip to main content

UK house prices end run of falls

UK house prices - Stabilising?
UK house prices - Stabilising?

Britain's biggest mortgage lender has said UK house prices rose by 1.9% during January - ending 10 consecutive months of price falls.

The increase more than offset December's 1.6% drop and left the average home costing £163,966, according to Halifax.

The group stressed that it was important not to place too much emphasis on any one month's figures, but it added that there were some very early signs that market activity may be stabilising, although at quite a low level.

The annual rate of house price inflation, which measures prices in the previous three months compared with the same period a year ago, remained deep in negative territory at a new record low of minus 17.2%.

The Halifax survey contradicts one from the Nationwide Building Society late last month. It said prices dropped by 1.3% during January.