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The Halifax House Price Index has recorded an increase of just 0.6% in the average UK house price for the month of January.
The rise is the most modest for six months, and contrasts starkly with Nationwide’s figure of 1.2% for the month.
Halifax figures show an annual property price rise of 3.6%, with the typical UK house now valued at £169,777.
While a 3.6% increase may sound modest, it is a considerable improvement on the annual figure 12 months ago which reported a fall of 17.2%.
Martin Ellis, housing economist at the mortgage lender, said:
"The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from those with a sufficient deposit to enter the market. Increased demand has combined with a low supply of properties available for sale to push up prices.
“There are some signs that more people are putting their homes on the market. A further increase in the supply of property is possible over the coming months, which would help to curb upward pressure on prices. Overall, our current view is that house prices will be flat during 2010."
Despite its stronger growth figures for January, Nationwide has also warned that the pace of property price increase is slowing, and concurs that prices are likely to be flat in 2010.
The January/February 2012 issue of Your Mortgage is on sale now. In it we feature expert predictions on what will happen to house prices, interest rates and the wider economy in 2012. We also explain the latest State help for first-time buyers, weigh up the relative merits of offset mortgages, and offer handy hints and tips on making sure you have the right home insurance in place. Plus we have all the regular features and our invaluable mortgage basics section. Get your copy now for the latest news, information and help
The Your Mortgage Awards aim to reward those lenders that have excelled in providing innovative and competitive products. Widely regarded as the UK's definitive consumer mortgage awards, the Your Mortgage Awards have now been running for 21 years.





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