House prices up 1.1% in January

The latest Halifax House Price Index shows that house prices rose by 1.1% in January following a small fall in December (-0.5%).

House prices in the three months November 2013-January 2014 were 1.9% higher than in the preceding three months (August 2013-October 2013). This is within the range of 1.8 – 2.1% recorded for this measure throughout the preceding eight months to June 2013.

The Halifax said activity is on an upward trend with housing transactions in 2013 exceeding one million for the first time since 2007.