House prices up 1.3% says Halifax

Posted: 08 Feb 2007 10:14:23 GMT


            Property News - House prices up 1.3% says Halifax

House prices rose 1.3 per cent over January following a slight negative blip at the end of 2006, the Halifax house price index has shown

House prices rose 1.3 per cent over January following a slight negative blip at the end of 2006, the Halifax house price index has shown.

The annual rate of inflation now stands at 9.9 per cent – the same figure as the previous month, despite a 0.9 per cent fall during December.

Analysts said that reading too much into the monthly index would be premature, with several other key findings pointing to a cooling housing market.

"If the December and January Halifax data are taken together, it could be seen as a sign that house prices could be beginning to come off the boil," said Howard Archer of Global Insight.

Mortgage approvals during January were at their lowest point for eight months. The average UK house price has now reached £188,623 said Halifax..

Financial markets reacted badly to the figures ahead of today's meeting of the Bank of England's rate setting committee.

Sky - Unlimted Broadband & TV
BT Broadband - Plus FREE BT Sports
Virgin Media - Superfast Broadband & TV
Gas & Electricty - Save up to £533
Mortgages - Find the cheapest
Home Insurance - Compare 70 providers
Free Credit Check - Check your credit file
Conveyancing - Fast Free quote
Tax Saving Guides - Tips to save Tax