UK House Prices Fall in January

House price inflation fell again in January, according to official government figures, with the traditional start-of-the-year surge in demand failing to materialise.

Average prices fell by 0.2% in January, said the Office for National Statistics, reversing a surprise gain in December and bringing prices back to the level they were last August.

The falls brought the annualised rate of house price inflation down to 8.4% from 9.8% in the previous month. “Annual house price growth is beginning to show signs of slowing across the majority of the UK,” the ONS said.

The London market continues to come off the boil, according to the ONS. The annual rate of increase in London house prices fell back to a 13-month low of 13.0% in January from 13.3% in December, 15.2% in November and a peak of 20.1% in May 2014.

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