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House prices make a strong start to 2010

  • House prices rose by 1.2% in January and are up 8.6% year-on-year
  • Recent economic data has been a mixed bag for the housing market
  • Inflation uncertainties highlight interest rate risk​

Commenting on the figures Martin Gahbauer, Nationwide’s Chief Economist said:
“House prices strengthened their upward momentum at the start of 2010, increasing by a seasonally adjusted 1.2% month-on-month in January. The 3 month on 3 month rate of change – usually a smoother indicator of the near term trend – dipped slightly from 2.3% in December to 2.1 % in January, but this primarily reflects the smaller price increases recorded in November and December. At £163,481, the average price of a typical UK property cost 8.6% more than a year earlier in January, up from 5.9% in December. Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month for the first time since May 2007.””

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Everyone at Edison Ford works as a team to bring you this content however, the content is generally written by Peter and the advice included in our guides comes from our own experiences and research collectively. We hope you find our content insightful and if you have any suggestions, then please feel free to email Peter.

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