Tuesday, February 5, 2008
House prices unchanged in January
However, the country's biggest mortgage lender said that house prices were rising at an annual rate of 4.5%.House prices were unchanged in January compared to December, according to the Halifax bank.The gain in annual house price growth pushed the value of the average UK home to £197,244 - a rise of £7,628.Problems in global financial markets, weakening consumer demand, higher interest rates and increases in petrol and food costs have all combined to rein in growth.The Financial Services Authority (FSA) also warned that a million homeowners could struggle to repay their home loans over the next 12 months.
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