UK House Prices Experience Fourth Consecutive Monthly Rise
Lower mortgage rates and fading inflationary pressures contribute to a 2.5% annual increase in property values, signaling a positive start to 2024.
- UK house prices rose by 2.5% in the year to January, marking the biggest increase since January 2023.
- The average house price in the UK reached £291,000 in January, with a £3,900 increase from December.
- Lower mortgage rates, driven by competition among lenders, along with fading inflationary pressures, have boosted buyer and seller confidence.
- Despite the recent uptick, experts caution that affordability challenges remain, with further modest falls in prices not ruled out.
- Northern Ireland recorded the strongest growth, with a 5.3% increase in average house prices, while London saw a slight decline of 0.4%.
The Guardian 
The Telegraph 
Evening Standard 
