Halifax records unexpected house price increase

by Christopher Evans

DIY house sellers may be buoyed by news that the price of a typical house increased in January.

After recording ten consecutive months of falls, the Halifax house price index has revealed that the average UK home increased in value by 1.9 per cent during January to £163,966.

This could be a good indication of house prices and the sentiment in the market if you are selling your own home.

January's increase reverses the 1.6 per cent fall witnessed in December, although prices in the three months to January are down 5.1 per cent.

Commenting on the results, Martin Ellis, Halifax's housing economist, said: "There are some very early signs that market activity may be stabilising, albeit at quite a low level."

However, he adds that rising unemployment and the lack of affordable mortgages mean that 2009 will still be "a difficult year for the housing market".

The figures from Halifax contradict Nationwide's own house price index for January, which revealed that house prices fell by 1.3 per cent.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on DIY house selling.

Published on: February 5, 2009

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