11
Mar
January house prices 'rise'
House prices grew in January by 1.7 per cent, according to new
figures released by the Department for Communities and Local
Government (DCLG).
Despite this monthly rise from December's, annual house price
inflation dipped to eight per cent, the department revealed.
The DCLG cited price rises in bungalows, terraced housing and
detached homes for the hike in monthly figures.
On average, a house in the UK now costs £221,758, up from
£218,007 in the last month of 2007, it claimed.
UK & European economist at Global Insight Howard Archer claimed
that a definite pattern is emerging.
"Taking an overall view of the housing market, including the latest
surveys by the Nationwide and the Halifax, it appears house prices
are cooling markedly but not collapsing at this stage," he
commented.
In related news, the Financial Times said last week said that house
prices have gone up in February, by 0.5 per cent. 