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UK HOUSE PRICES RISE BY 0.6% IN JANUARY

UK house prices increased by 0.6% in January, according to the latest survey from the Halifax.

The change means that the average cost of a house was £160,907 last month, the bank said.

House prices are 1.8% lower than a year ago, according to the Halifax's measure.

The bank said prospects for the housing market over the coming months depended on whether the debt crisis in the eurozone would affect the UK economy.

"If the UK can avoid a prolonged recession, we expect broad stability in house prices in 2012," said Martin Ellis, Halifax's housing economist.

 

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