–CLG: UK Jan House Prices Down 1.4% m/m; Up 0.5% y/y
LONDON (MNI) – UK house prices fell sharply on the month in January
but were still just up on a year ago, according to data from the
department of Communities and Local Government.
January house prices were down 1.4% on December and up 0.5% on a
year ago. Over the three months through January house prices were down
0.4%, having fallen 0.2% in the three months through October.
The CLG data shows house price inflation evaporating. Back in
August house prices on a non-seasonally adjusted basis were up 8.1% on
the year, before dropping to up 6.1% on the year in July, up 5.1% in
October, up 4.0% in November, up 3.8% in December and now up just 0.5%
in January.
The CLG said the January seasonally adjusted index was 5.9% below
the local price peak reached in April 2008 and 9.6% above the local
trough hit in April 2009.
–London newsroom: 4420 7862 7491; email drobinson@marketnews.com
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