House prices in the UK stabilised in January following a series of monthly falls last year, according to new figures from the Halifax bank.
Halifax said the typical property value remained largely unchanged in January 2023 at £281,684, compared with December 2022.
The bank’s House Price Index (pdf) recorded 0.0 percent house price growth in January month-on-month, following monthly decreases of 1.3 percent in December and 2.4 percent in November.
Property values increased by 1.9 percent annually, the lowest level recorded over the past three years.
The average house price is now more than £12,000 below a peak seen in August last year, which was £293,992.
Kim Kinnaird, director of Halifax Mortgages, said, “The start of 2023 has brought some stability to UK house prices, with the average house price remaining largely unchanged in January at £281,684, a very small decrease on December.”…