The average house price in Britain hit 240,054 pounds (about 310,555 U.S. dollars) in January, marking a 4.1 percent annual increase amid “signs of improvement”, the mortgage lender Halifax said Friday.

Meanwhile, house prices in January were 0.4 percent higher than that of the previous month, suggesting “a modest monthly increase”, according to the Halifax’s House Price Index.

On a quarterly basis, house prices in the latest quarter (from November to January) were 2.3 percent higher than in the preceding three months (from August to October in 2019), said the Halifax.

“House prices kicked off the year with a modest monthly increase, rising by 0.4 percent in January following the stronger gains of 1.8 percent and 1.2 percent seen in December and November respectively,” said Russell Galley, managing director of the Halifax, noting that it is “too early to say if a corner has been turned.”

“While housing market activity has undoubtedly increased over recent months, the extent to which this persists will be driven by housing policy, the wider political environment and trends in the economy,” added Galley.

Speaking of the prices ahead, Galley said: “We still expect a moderate rate of house price growth over the course of the year.”

“However with the growth in rental costs accelerating, many first-time buyers will continue to face a significant challenge in raising necessary deposits,” said Galley. Enditem


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