UK Housing Market Maintains Momentum

In a recent update from the Nationwide House Price Index, the UK housing market demonstrated resilience with a 4.1% annual growth in house prices as of January. This marks a slight decrease from December's 4.7% growth rate.

Monthly and Average Price Insights

On a month-to-month basis, there was a modest increase of 0.1% in house prices, after adjusting for seasonal variations. The average price of a home in the UK now stands at £268,213.

Expert Commentary

Robert Gardner, Nationwide's Chief Economist, highlighted the market's enduring strength despite ongoing affordability challenges. He noted, "The housing market continues to show resilience despite ongoing affordability pressures," and emphasized that affordability "remains stretched by historic standards."