9 February 2006, 11:48  UK: January, House prices down 0.4 % m/m

The recovery in the UK house market appeared to suffer a setback in the new year, according to a key housing market survey. According to data from HBOS PLC unit, Halifax, the average house price in January fell 0.4 pct from December for a 5.1 pct annual increase. The monthly fall is the first since May 2005. The average house price now stands at 170,833 stg compared with 171,362 in December. The monthly fall is below expectations of a modest increase of 0.5 pct. The annual rate, meanwhile, also comes in below predictions of a 5.5 pct gain. In December, there were corresponding increases of 1.0 pct and 5.1 pct. The latest figures cut against the grain of other surveys and data about the property market. In its monthly survey of the sector released last week, Nationwide Building Society said house prices, on a seasonally adjusted basis, rose 1.4 pct in January from the previous month, up from December's 0.5 pct rise. The increase was the biggest since July 2004 and also well ahead of expectations

© 1999-2024 Forex EuroClub
All rights reserved