UK House Prices Rose by 0.3% in January

UK house prices rose by 0.3% in January as the slowdown in activity that began towards the end of 2014 continued to soften growth, the country’s biggest building society said.

After a rush of sales in the first part of 2014, mortgage approvals started to drop off in the autumn and ended the year down by around a fifth, and reports from surveyors suggest there are fewer would-be buyers looking for homes.

In the first snapshot of the market in 2015, Nationwide said the monthly rate of growth was slightly higher than December’s figure of 0.2%, but the annual rate of price inflation had fallen for a fifth month running, this time to 6.8% from 7.2%, its lowest level for 14 months. The society said the average price of a UK home now stands at £188,446 – 2.4% above its pre-crisis peak.

Separate figures from Land Registry showed that over the course of 2014, prices across England and Wales rose by 7% to an average of £177,766. It said December had seen a 0.6% uplift in prices, although this masked big variations around the regions. In London, monthly growth was three times that figure, while in the north-west of England prices were down by 1.6% month on month. Across the year, there was growth in all regions, although that in London and the south-east and east of England was more than double that elsewhere.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza