House prices increase by 0.7% in January – Halifax
7th Feb 2025
House prices increased by 0.7% in January following dip of -0.2% in December, the latest Halifax House Price Index has revealed.
The index revealed the average property price throughout the month hit £299,138, a new record high.
Hoswever, annual growth eased slightly to 3.0%, compared to 3.4% previous month.
On a regional basis, the rate of annual property price inflation slowed in two thirds of the UK’s nations and regions at the start of the year.
Northern Ireland continued to have the strongest annual property annual price growth in the UK, though at 5.9% in January this eased considerably compared to December (7.3%).
Properties in Northern Ireland costed an average of £205,473.
House prices in Wales were up 3.6% compared to the previous year – with properties costing an average of £227,397.
Scotland once again saw a lower rise in house prices compared to the rest of the UK, with properties in the country worth an average of £210,690, 2.4% more than the year before.
In England, the North East has overtaken the North West as the region with the strongest annual property price growth, up 5.2% compared to the previous year, with properties averaging at £178,696.
This is the first time since September 2023 that the North West has not topped the table of English regions for annual growth.
London retained the highest average house price in the UK, at £548,288, up 2.8% compared to last year.
SOURCE: The Intermediary 07/02/2025
