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2/1, 8:06 AM (Source: TeleTrader)
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UK annual house price growth rises to 11.2% in January

Annual price growth in the United Kingdom stood at 11.2% in January, according to the Nationwide House Price Index released on Tuesday. The figure marks a rise from the growth of 10.4% registered in December.

On a monthly basis, the index grew 0.8%, while the average house price in the country stood at £255,556, up from £254,822 recorded in the previous month.

"While the outlook remains uncertain, it is likely that the housing market will slow this year. House price growth has outstripped earnings growth by a wide margin since the pandemic struck and, as a result, housing affordability has become less favourable," said Robert Gardner, chief economist at Nationwide.

Baha Breaking News (BBN) / JG