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Archive news can be found at the bottom of the page Nationwide Building Society January House Price Report
Nationwide Building Society January House Price Report - Little
Movement In House Prices During January
House prices fell by a modest 0.1% in January, the third
consecutive monthly decline
The annual rate of house price inflation edged down from 4.8%
to 4.2%
Housing market conditions have loosened further, but there
are tentative signs that demand may have bottomed out
Headlines
January 2008 | December 2007
Monthly index * Q1 '93 = 100 | 365.9 | 366.4
Monthly change* | - -0.1% | - -0.4%
Annual change | 4.2% | 4.8%
Average price | ?180,473 | ?182,080
* seasonally adjusted
Commenting on the figures Martin Gahbauer, Nationwide's Senior
Economist, said:
"UK house prices were barely changed in January, recording a
modest fall of 0.1% over the month on a seasonally adjusted basis.
Although house prices have now fallen for three consecutive months,
the price of a typical property is still 4.2% higher than a year ago.
However, this figure is down from 4.8% in December and represents the
lowest rate of annual house price inflation since December 2005.
Highlighting the softness in house prices since November, the 3-month
on 3-month rate of price growth fell to -0.3%, down from +0.9% the
previous month. The average price of a typical property stood at
?180,473 in January, an increase of ?7,249 over the last
12 months."
Full
Nationwide House Price Report Q4 2007
01st Feb 2008by: Editor
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