House prices in the United Kingdom rose 0.8% throughout the month of January to make up for the adverse weather hitch in December though it’s considered that the actual increases are solely short term, state Halifax.
The regular Halifax House Cost Index said the average price of a property in great britan rose unexpectedly to £164,173 last month.
This partly reverses falls coming from December, whenever snowed-in buyers avoided the marketplace and prices plunged 1.3% from the prior month.
But its quarter-on-quarter measure of house costs – seen as a smoother sign of market styles – registered a drop of 0.7%, according to the group.
Martin Ellis, Halifax housing economist, said: ‘Prices in the latest three months were 0.7% lower than in the previous quarter, continuing the slight downhill trend about this fundamental measure. House prices increased by 0.8% in between December and January.
‘We assume restricted movement in house costs overall this season. You will find, however, probably be some monthly fluctuations with the risks on the downside.
‘The potential customers for the market in 2011 are closely aligned using the overall performance of the wider economic climate. Consumer confidence has fallen recently, partly as a result of anxiety about the economic outlook.’
