(Halifax) UK house prices rose by a monthly 0.3% in January, the lowest increase since June 2021, pushing the average cost of ownership to a new record 276,759 pounds.
The 0.3% increase in house prices indicates slowdowns as the UK posted four consecutive months of increases above 1%.
Wales posted the strongest house price increases, with inflation an annual 13.9%, slightly lower than December. London was the weakest, with the house price inflation up for the third straight month gaining by an annual 4.5%.
Following January gains, UK house prices are now 9.7% higher than the prior year, with the total transaction volumes returning to the levels before the pandemic.
House affordability now remains at historically low levels, with prices rising at a faster pace than earnings.
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