General | 8 February 2012
January's house price index (HPI)
The UK's HPI for January saw an overall increase of 0.6%.
The HPI, carried out by Halifax, has shown that despite house prices in England and Wales increasing in January, the low level interest rate of 0.5% set by the Bank of England has led to stable house prices over the last eight months.
Low interest rates also meant that mortgage repayments for January were the lowest levels recorded for 14 years when compared to household income.
Halifax’s HPI has also indicated that the average UK house price for January was £160,907.