Halifax's HPI records a January jump

The Halifax House Price Index has recorded a surprise jump for January.

The bank's data showed a 2.0% rise between December and January.

Halifax's housing economist, Martin Ellis,  noted: 

“This bounce-back in house price growth in January coincides with reports of the first rise in mortgage approvals for six months in December. These improvements may indicate that the recent declines in mortgage rates, the reform of stamp duty and the first increases in real earnings for several years are providing a modest boost to the market. It is, however, too early to draw any firm conclusions."

"Housing demand should continue to be supported by an expanding economy, continuing low mortgage rates and a boost to households’ spending power resulting from lower consumer price inflation and reduced fuel bills. Nonetheless, we expect the overall downward trend in house price growth seen since last summer to continue over the coming months. Nationally, house prices are predicted to increase in a range of 3 to 5% in 2015 compared with 8% last year."

Download the Halifax January 2015 House Price Index

Read the Financial Times comment on Halifax Jan 2015 HPI

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