British house prices slip in January: survey

6th February 2013, Comments 0 comments

British house prices dipped in January from the level in December, but climbed on an annual basis for the first time for 27 months in a sign of improvement in the property market, a key survey showed on Wednesday.

Prices fell by 0.2 percent in January from December, after rising for the previous two months, according to data from home-loans provider Halifax. The data covers all categories of homes including apartments.

Halifax, which is part of state-rescued Lloyds Banking Group, added that the average price of a home in Britain stood at £162,932 ($255,284, 188,649 euros) in January, which was 1.3-percent higher than one year ago.

"The signs of improvement in the housing market towards the end of last year continued in January," said Halifax housing economist Martin Ellis.

"The outlook for the UK economy and house prices, however, is more unclear than usual.

"Subdued economic growth and pressures on household finances are expected to constrain housing demand. Overall, we expect continuing broad stability in house prices nationally in 2013," he added.

© 2013 AFP

0 Comments To This Article