UK Money News
12th March 2008
UK house prices rose 1.7% in January
Property prices across the UK were up during January, according to government data.
Figures from the Department for Communities and Local Government (CLG) show that the average home increased in value by 1.7 per cent compared with December last year.
This is, however, down from the rate of 2.1 per cent in January last year and consequently the annual rate of house price inflation fell to eight per cent from 8.4 per cent.
The decline was noted in all areas of the UK, but was most pronounced in Northern Ireland where house price growth dipped from 12.6 per cent to 8.4 per cent.
This compares with a fall from 8.1 per cent to 7.9 per cent for English property and a dip from 11.1 per cent to 9.8 per cent for homes in Scotland.
Detached houses benefited from the most marked house price growth, rising by 4.3 per cent, followed by flats (1.3 per cent), bungalows (1.1 per cent), semi-detached houses (0.9 per cent) and terraced houses (0.5 per cent).
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