Halifax sees property values increase

04 February 2005
The average price of a property in the UK rose for the second month in a row in January, according to the Halifax.

The mortgage lender found that after December's 1.1 per cent increase in values, house prices went up 0.8 per cent in January.

Martin Ellis, Halifax chief economist, commented: "The ongoing strength of the UK economy and the labour market remain solid foundations for the housing market, ensuring that it remains in good health. The second successive monthly rise in house prices in January suggests that the market is undergoing a measured slowdown."

January's increase means that the average house price in the UK is now at an all-time high of £163,748.

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