House price growth fastest in two years

UK house prices are rising at their fastest annual rate for nearly two years, jumping 4.1% year-on-year in January, taking the price of an average home to £240,054, according to Halifax. From December, prices rose 0.4%, and climbed 2.3% on a quarterly basis, Halifax’s house price index revealed. Russell Galley, a managing director at Halifax, said there were several signs of a pick-up in the housing market, including more buyer and seller activity, consistent with a reduction in uncertainty in the UK economy. Halifax said it expected a “moderate” rate of house price growth over the course of the year as demand was likely to continue to exceed the supply of properties for sale across the UK because of the “subdued” pace of new building.

The Times (07/02/20)